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SILVER TECHS

Bullish Price Structure Intact

GERMAN DATA

German Mar Factory Orders Beat Expectations

GOLD TECHS

Bullish Focus

Resumes Weakness

EURO-STERLING TECHS
MNI (London)
  • RES 4: 0.9292 High Sep 11 and the bull trigger
  • RES 3: 0.9220 High Sep 22 and a key near-term resistance
  • RES 2: 0.9181 High Sep 24
  • RES 1: 0.9172 Trendline resistance drawn off the Sep 11 high
  • PRICE: 0.9076 @ 17:07 BST Sep 30
  • SUP 1: 0.9062 Low Sep 29
  • SUP 2: 0.9025 Low Sep 28 and the bear trigger
  • SUP 3: 0.9000 Round number support
  • SUP 4: 0.8967 76.4% retracement of the Sep 3 - 11 rally

EURGBP faded the Tuesday bounce into the Wednesday close, narrowing the gap with key S/T support at 0.9025, Monday's low. A break through here reinstates the bearish threat, and a fall through opens round number support at 0.90 initially. To the upside, renewed gains toward and through the week's highs of 0.9158 opens 0.9220, Sep 22 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com