Free Trial

Minor correction: *RES 4:.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Minor correction:
*RES 4: 0.9108 High Jan 3 and major resistance
*RES 3: 0.9070 Trendline drawn off the Oct 7 2016 high
*RES 2: 0.9062 High Jan 11
*RES 1: 0.9051 High Jul 17
*PRICE: 0.8986 @ 08:40 GMT Jul 19
*SUP 1: 0.8974/72 21-dma / Low Jul 19
*SUP 2: 0.8954 Low Jul 8 and key near-term support
*SUP 3: 0.8921/16 Low Jul 2 / 2% lower Bollinger band
EURGBP breached the 0.9000 level yesterday, with the downtrend extending through
Asia to 0.8972. Despite this, the bull trend remains intact and pullbacks in the
cross are viewed as corrective setbacks. The focus is on Wednesday's high at
0.9051, ahead of the Jan 11 high and down trendline drawn off the Oct 7, 2016
high at 0.9062/70. Key trend support remains at 0.8954, the low of Jul 8 and
would need to hold to avoid a deeper correction. Initial support is seen from
the 21-dma at 0.8971.

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.