Free Trial

Retracement Off The High........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Retracement Off The High
Renewed sterling buoyancy on the well received labour market report saw EURGBP
extend its corrective pullback toward the 0.90 level, before the pair drifted
marginally higher through the London afternoon. Bears need a close below 0.90 to
stabilise the outlook and target the 100-dma at 0.8888 to suggest a reversal
pattern is in play. Bulls need to break the heavily congested 0.9090/00 zone for
the next leg higher, this area also holds the GBPEUR equivalent of E1.10 which
some see as a key psychological level.

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.