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Free AccessStg0.8900 Break Needed To.......>
EURO-STERLING TECHS: Stg0.8900 Break Needed To Revive Upside Interest
*RES 4: Stg0.8951 76.4% Fibo of Stg0.9032-Stg0.8689
*RES 3: Stg0.8925 1.618 swing of Stg0.8891-Stg0.8836
*RES 2: Stg0.8916/18 Equality rise from 0.8760, Jan 2 high
*RES 1: Stg0.8900 Hourly high Jan 2, Jan 3 high
*PRICE: Stg0.8892 @1050GMT
*SUP 1: Stg0.8860/65 Hourly support
*SUP 2: Stg0.8848 Jan 3 low
*SUP 3: Stg0.8836 Dec 22 low
*SUP 4: Stg0.8792 Dec 18 low
*COMMENTARY* Rally moved above the initial swing target at Stg0.8900 earlier in
the week but was curtailed around the equality rise target in the slightly
higher Stg0.8916 area. This and a second swing target at Stg0.8925, present the
potential bar to a return towards Stg0.8951 Fibo resistance and the Nov 28 high
at Stg0.8981. In the meantime, we have seen a pullback to Stg0.8848 which has
helped to reduce near term overbought conditions.
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.