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Free AccessProbing the 200-dma: *RES 4:....>
EURO-STERLING TECHS: Probing the 200-dma:
*RES 4: 0.9031 High Sep 5
*RES 3: 0.9015/16 High Sep 9 / Channel resistance drawn off Aug 12 high
*RES 2: 0.8975 High Sep 13
*RES 1: 0.8902 High Sep 16
*PRICE: 0.8848 @ 04:25 GMT Sep 19
*SUP 1: 0.8820 Low Sep 18
*SUP 2: 0.8810/09 Bear channel base / 61.8% of May 6 - Aug 12 rally
*SUP 3: 0.8772 Low May 22
*SUP 4: 0.8725 Low Jun 21
EURGBP eased again yesterday with prices probing the 200-dma. Bearish outlook
remains intact with the focus on the 0.8809, 61.8% Fibonacci retracement. In
candle terms, the Sep 13 pattern is a standard line, a continuation pattern
highlighting the likelihood the cross will remain soft near-term. Momentum and
moving average studies also continue to point south. On the upside, resistance
is located at 0.8902, Monday's high ahead of Friday's 0.8975 high.
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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.