Free Trial

Pressuring Bear Channel Top.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Pressuring Bear Channel Top
*RES 4: Gbp0.8904 Low Mar 8 now resistance 
*RES 3: Gbp0.8856 55-WMA 
*RES 2: Gbp0.8845 200-DMA 
*RES 1: Gbp0.8810 Daily Bear channel top off 2017 High
*PRICE: Gbp0.8805 @ 0430GMT
*SUP 1: Gbp0.8751 55-DMA 
*SUP 2: Gbp0.8741 High May 29 now support 
*SUP 3: Gbp0.8694 Hourly support May 30 
*SUP 4: Gbp0.8678 Low Apr 26
*COMMENTARY: Pressure repeatedly returning to the 100-DMA (Gbp0.8790) sees the
pair trading above and now pressuring the bear channel top off 2017 highs. Bulls
look for a close above the channel top to shift immediate focus to
Gbp0.8845-0.8904 where the 200-DMA & 55-WMA are noted. Daily studies are well
placed for a fresh leg higher. Bears now need a close below Gbp0.8741 to shift
focus back to Gbp0.8664-94.

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.