Free Trial

Key DMAs Capping *RES 4:........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Key DMAs Capping
*RES 4: Gbp0.8872 Daily Bear channel top 
*RES 3: Gbp0.8853 100-DMA 
*RES 2: Gbp0.8849 200-DMA 
*RES 1: Gbp0.8821 21-DMA
*PRICE: Gbp0.8765 @ 0530GMT
*SUP 1: Gbp0.8752 Low Jan 30 
*SUP 2: Gbp0.8719 Hourly support Jan 25 
*SUP 3: Gbp0.8685 2018 Low Jan 25 
*SUP 4: Gbp0.8649 Low May 8
*COMMENTARY: Bears take comfort as the recovery from 2018 lows remains capped
ahead of key DMAs and the daily bear channel top. Bulls need a close above the
bear channel top to end bearish hopes and shift focus to layers of resistance
Gbp0.8928-0.9048. The pair remains heavy following the sell-off Tuesday with
bears now needing a close below Gbp0.8752 to reconfirm initial focus on 2018
lows and then the 100-WMA (Gbp0.8578) on a close below. 

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.