Free Trial

Off Recent Lows *RES 4:.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Off Recent Lows
*RES 4: 0.8605 High Nov 22
*RES 3: 0.8596 High Jan 14 and bull trigger
*RES 2: 0.8554 High Jan 20
*RES 1: 0.8501 High Jan 22
*PRICE: 0.8474 @ 16:47 GMT Jan 28
*SUP 1: 0.8389 Low Jan 24
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8352 76.4% retracement of the Dec 13 - Jan 14 rally
*SUP 4: 0.8277 Low Dec 13 and key support
EURGBP last week breached a key support at 0.8452, Dec 31 low to confirm a range
breakout. Friday saw the cross probe 61.8% of the Dec - Jan rally at 0.8399.
Together, this highlights a bearish theme with the cross likely to remain
vulnerable near-term. Attention is on 0.8356, Dec 17 low and if this level is
cleared, the key support at 0.8277, Dec 13 low. Firm resistance has been defined
at 0.8554, Jan 20 high with initial resistance at 0.8501.

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.