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Free AccessStill bearish within the........>
EURO-STERLING TECHS: Still bearish within the channel:
*RES 4: 0.8995 Channel resistance drawn off Aug 12 high
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8902 High Sep 16
*RES 1: 0.8894 High Sep 19
*PRICE: 0.8827 @ 04:27 GMT Sep 23
*SUP 1: 0.8787 Low Sep 19
*SUP 2: 0.8772 Low May 22
*SUP 3: 0.8725 Low Jun 21
*SUP 4: 0.8687 76.4% retracement 0.8490 - 0.9325
EURGBP extended the downtrend Friday, hitting fresh lows at 0.8787. The
technical outlook is broadly unchanged and remains bearish. The 0.8809
objective, 61.8% Fibonacci retracement has been achieved and attention turns to
0.8772 and 0.8725, May 22 and 21 lows respectively. Momentum and moving average
studies continue to point south. On the upside, resistance is located Thursday's
0.8894 high.
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Why MNI
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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.