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Free AccessRecovery Continues, Eyes........>
EURO-STERLING TECHS: Recovery Continues, Eyes Stg0.8926-Stg0.8961 Next
*RES 4: Stg0.8961 76.4% Fibo of Stg0.9032-Stg0.8733
*RES 3: Stg0.8939 Nov 2 high
*RES 2: Stg0.8926 1% volatility band
*RES 1: Stg0.8919 Intraday high
*PRICE: Stg0.8901 @1100GMT
*SUP 1: Stg0.8870/75 Hourly support
*SUP 2: Stg0.8840/45 Congestion area Nov 8-Nov 9
*SUP 3: Stg0.8824 Nov 9 low
*SUP 4: Stg0.8791 Nov 7 low
*COMMENTARY* Found support from Stg0.8791 last week, thereby saving the downside
from a test to the pivotal Stg0.8784-Stg0.8782 area. The subsequent recovery has
now broken back above Stg0.8885. This has seen a challenge and slight break
above Stg0.8912 resistance. Above here and the upper 1% volatility band at
Stg0.8926 then becomes the bar to a further Stg0.8939-Stg0.8961 rise. Support
now Stg0.8875-Stg0.8870, with Stg0.8845-Stg0.8840 below.
To read the full story
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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.