Free Trial

Off Earlier Highs *RES 4:.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Off Earlier Highs
*RES 4: 0.9020 High Oct 10
*RES 3: 0.8900 Round number resistance
*RES 2: 0.8869 High Oct 11
*RES 1: 0.88480 Intraday high
*PRICE: 0.8722 @ 09:53 GMT Mar 11
*SUP 1: 0.8681 Low Mar 10
*SUP 2: 0.8621 Low Mar 5 and key support
*SUP 3: 0.8595 Low Mar 2, also a key support
*SUP 4: 0.8522 Low Feb 28
EURGBP registered a new high print at 0.8781 this morning but is now sharply off
that level. Gains in early March resulted in the break of 0.8596, Jan 14 high
confirming an important swing in price that also signals a potential M/T
reversal. The cross last week held above this breakout level, a positive
development and the underlying trend remains up. We do need to see a correction
though, a pullback ahead of the 0.8621 - 0.8595 support zone is possible.

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.