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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Stg0.8980-Stg0.8994 Now.........>
EURO-STERLING TECHS: Stg0.8980-Stg0.8994 Now Presents As Next Resistance Area
*RES 4: Stg0.9032 Oct 12 high
*RES 3: Stg0.9020/22 1% volatility band, Oct 20 high
*RES 2: Stg0.8994 Hourly high Oct 20
*RES 1: Stg0.8980 Hourly recovery high Oct 20
*PRICE: Stg0.8966 @1608GMT
*SUP 1: Stg0.8825/35 Hourly support
*SUP 2: Stg0.8908 Initial recovery high Oct 23, now support
*SUP 3: Stg0.8886/97 Oct 23, Oct 18 lows
*SUP 4: Stg0.8855/56 61.8% Stg0.8746-Stg0.9032, Oct 16 low
*COMMENTARY* Had been building for another assault on the key
Stg0.9026-Stg0.9032 area but was thwarted by the upper 1% volatility band, now
at Stg0.9020 by time today. The subsequent fall below the Oct 18 high at
Stg0.8947 has triggered a correction, the Oct 18 low at Stg0.8897 coming under
pressure briefly on Monday, a low of Stg0.8886 before a bounce. Back above
Stg0.8940 is helpful but Stg0.8980-Stg0.8994 presents a tougher barrier.
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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.