Free Trial

Rally Slows And Now back........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Rally Slows And Now back Beneath 1% Volatility Band
*RES 4: Stg0.9338 2% volatility band
*RES 3: Stg0.9310 Equality rise from 0.8743 to 0.8313-0.8880
*RES 2: Stg0.9275 4 month bull channel top projection
*RES 1: Stg0.9237/46 Aug 23 high, 1% volatility band
*PRICE: Stg0.9208 @0905GMT
*SUP 1: Stg0.9190/95 Aug 24 low, hourly support
*SUP 2: Stg0.9173/77 Hourly highs Aug 22-23, now support
*SUP 3: Stg0.9144/54 Aug 16 high, Aug 22 low
*SUP 4: Stg0.9119 Aug 11 high, now support
*COMMENTARY* The rally has slowed over the last couple of days, a high of
Stg0.9237 on Wednesday, before once again slipping back below the upper 1%
volatility band, at Stg0.9246 by time today. That said, initial support from
above Stg0.9190 remains intact and while this holds it protects against a deeper
Stg0.9177-Stg0.9144 fall. The 6 week rising support line is at Stg0.9147. Above
Stg0.9246 and look to Stg0.9275-Stg0.9310 next.

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.