Free Trial

Looking For A Break Higher

EURO-STERLING TECHS
  • RES 4: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline
  • RES 3: 0.9176 High Jun 29 and the bull trigger
  • RES 2: 0.9145 High Jun 30
  • RES 1: 0.9139 Intraday high
  • PRICE: 0.9101 @ 10:33 BST Jul 27
  • SUP 1: 0.9049 20-Day EMA
  • SUP 2: 0.9001 Low Jul 21 and key near-term support
  • SUP 3: 0.8991 50-day EMA
  • SUP 4: 0.8938 Low Jul 10 and the key near-term support

EURGBP found support Jul 21 and has defined a S/T base at 0.9001The
outlook remains bullish. Recent Japanese candle patterns highlighted a
reversal. Activity Jun 13, was a bullish engulfing and followed a doji
candle on Jun 10. Together they signalled a reversal off 0.8938, Jun 10
low. The focus is on 0.9145, Jun 30 high and 0.9176, Jun 29 high. A
break of 0.9001 would concern bulls.

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.