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Market News Topics
October 12, 2017 01:11 GMT
###POV 55-WMA Key LT Support....>
EURO-STERLING TECHS
EURO-STERLING TECHS: ###POV 55-WMA Key LT Support
*RES 2: Gbp0.9306 - 2017 High Aug 29
*RES 1: Gbp0.9107 - Low Sept 6 now resistance
*PRICE: Gbp0.8957 @ 0130GMT
*SUP 1: Gbp0.8778 - Weekly Bull channel base
*SUP 2: Gbp0.8724 - 55-WMA
###POV: The correction from 2017 highs found support ahead of the 55-WMA and
again confirmed significance of the LT weekly bull channel base off late Nov
2015 lows. The 55-WMA is key support for LT traders with a close below needed to
confirm a break of the bull channel base and shift focus back to layers of
support Gbp0.8031-8358 where 100 (Gbp0.8358) & 200 ((Gbp0.8031) WMAs are noted.
Below Gbp0.8117 (mthly high Apr 2016) is needed to hint at a move to Gbp0.7522
with below the 200-WMA to confirm.
- While the 55-WMA supports LT bulls retain the advantage but need a close above
Gbp0.8107 to reconfirm focus on Gbp0.9306-65 where 2017 & 2016 lows are
situated. - Click for chart https://tinyurl.com/y9f9kx3n
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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.
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