Free Trial

Shoots Higher *RES 4: 0.8575....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Shoots Higher
*RES 4: 0.8575 High Dec 2
*RES 3: 0.8531 High Dec 4
*RES 2: 0.8509 High Dec 12 and key resistance
*RES 1: 0.8471 Intraday high
*PRICE: 0.8451 @ 10:28 GMT Dec 17
*SUP 1: 0.8356 Intraday low
*SUP 2: 0.8277 Low Dec 13
*SUP 3: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 4: 0.8149 1.618 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP is firmer today as Sterling comes under pressure. The cross has entered
the upper boundaries of its resistance zone which for reference purposes, we see
in the 0.8380 to 0.8480 range. The upper extreme, around 0.8380 will be
important today as resistance. The underlying trend remains bearish and selling
interest needs to surface ahead of the 0.8580 area. A continued break higher
would risk 0.8509, and potentially beyond. First support is 0.8356.

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.