Free Trial

Path Of Least Resistance........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Path Of Least Resistance Still Down
*RES 4: 0.8531 High Dec 4
*RES 3: 0.8509 High Dec 12 and key resistance
*RES 2: 0.8457 High Dec 13
*RES 1: 0.8393 Low Dec 9
*PRICE: 0.8362 @ 17:16 GMT Dec 16
*SUP 1: 0.8277 Low Dec 13
*SUP 2: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 3: 0.8149 1.618 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 4: 0.8071 1.764 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP traded higher Monday however the cross remains bearish following Friday's
sharp sell-off that again confirmed a resumption of the downtrend in place since
Aug 12. The cross breached a major support at 0.8305, May 12, 2016 low. This
level also represents the base of the broad range price the cross has been
trading within since peaking in July 2016. A clear break would represent a
significant bearish reversal. Initial resistance is seen at 0.8393.

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.