Free Trial

Holds Gains *RES 3: 0.8504......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Holds Gains
*RES 3: 0.8504 High Oct 10
*RES 2: 0.8459 High Feb 11
*RES 1: 0.8400 High Feb 13
*PRICE: 0.8368 @ 09:53 GMT Feb 20
*SUP 1: 0.8282 Low Feb 18
*SUP 2: 0.8277 Low Dec 13
*SUP 3: 0.8251 Low Jul 14 2016
EURGBP recovered well Wednesday and the bounce is holding for now. Nonetheless,
the bounce has been insufficient to counter recent bearish signals. The sharp
sell-off last week confirmed the bearish tone which targets the December low at
0.8277. Note, a break of 0.8277 would also highlight a major bearish breakout of
the broad range the cross has been trading within since Oct 2016. A key S/T
resistance has been defined at 0.8538, Feb 4 high. Initial resistance is at
0.8400.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.