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Free AccessRecovery off the cross' Oct10 low.....>
EURO-STERLING: Recovery off the cross' Oct10 low of Gbp0.8723 extended to
Gbp0.8896 in NY Friday, with Bloomberg data showing rate touching Gbp0.8898 in
opening Asian trade. Move has seen rate rejected away from the base of its 1.0%
10-dma envelope toward the topside, which today comes through at Gbp0.8921. Rate
did drift lower through Asia, touched a low of Gbp0p.8874 ahead of Europe only
to meet fresh demand into the European session which has edged back to
Gbp0.8888. Month-end approaching and demand flows maybe emerging, value date
Oct31. Resistance Gbp0.8900 ahead of Gbp0.8921.
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.