Reporting on key macro data at the time of release.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI Research
- About Us
EURO-STERLING TECHS: Pivot Resistance Is At 0.8937:
*RES 4: 0.9015 High Sep 9
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8974 100-dma
*RES 1: 0.8937 High Oct 1 / Oct 4 and the reversal trigger
*PRICE: 0.8919 @ 08:21 GMT Oct 4
*SUP 1: 0.8832 Low Sep 30 and 100-dma
*SUP 2: 0.8803 Low Sep 25
*SUP 3: 0.8787 Low Sep 19 and bear trigger
*SUP 4: 0.8772 Low May 22
EURGBP Friday rose to challenge, but ultimately failed again to confirm a clear
breach of the top of the broad bear channel drawn off the Aug 12 high. 0.8937
remains a key near-term resistance. This is Friday's high and the high of Oct 1.
A clear breach would confirm a breakout of the channel and importantly also
confirm a trend reversal. Support for now remains 0.8832, a move back below this
level would instead highlight a resumption of the downtrend.