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Multi-year highs in play:.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Multi-year highs in play:
*RES 4: 0.9415 High Oct 2016
*RES 3: 0.9307/38 High Aug 29 2017/Upper 2.0% 10-dma envelope
*RES 2: 0.9278 Upper Bollinger Band (2%)
*RES 1: 0.9249 High Aug 06
*PRICE: 0.9218 @ 05:33 GMT Aug 08
*SUP 1: 0.9196/88 100-hma/Low July 7
*SUP 2: 0.9159/26 200-hma/Aug02 low
*SUP 3: 0.9089 Low Jul 31
*SUP 4: 0.9051 High Jul 17 and last Monday's bull trigger
Pullbacks have so far remained shallow and this keeps the broader, technically
bullish picture intact. A break of the recent multi-month high of 0.9249 would
open a return to the Aug 29 2017 high & upper 2.0% 10-dma envelope at 0.9307/38.
However, this argument would weaken on a fall below 0.9051, the former bull
trigger. Brexit/political headlines remain the key driver ahead of the October
31 Brexit deal deadline.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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