Free Trial

Signs Of A Base *RES 4:.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Signs Of A Base
*RES 4: 0.8615 2.0% Upper Bollinger Band
*RES 3: 0.8608 2.0% Upper 10-dma envelope
*RES 2: 0.8575 High Dec 2
*RES 1: 0.8557 High Dec 19
*PRICE: 0.8539 @ 16:56 GMT Dec 19
*SUP 1: 0.8478 Intraday low
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8277 Low Dec 13 and key support
*SUP 4: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP got a further boost after the NY open Thursday, hitting new post-election
highs of 0.8557. A clear break here signals the confirmation of a short-term
base and open 0.8575, Dec 2 high and potentially above. On the downside, support
lies at Tuesday's 0.8356 low where a break is required to reinstate a near-term
bearish focus.

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.