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Free AccessStill Bearish Within The........>
EURO-STERLING TECHS: Still Bearish Within The Channel:
*RES 4: 0.9015 High Sep 9
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8929 Bear channel resistance drawn off Aug 12 high
*RES 1: 0.8905 High Sep 30
*PRICE: 0.8867 @ 09:34 GMT Oct 1
*SUP 1: 0.8832 Low Sep 30
*SUP 2: 0.8803 Low Sep 25
*SUP 3: 0.8787 Low Sep 19 and bear trigger
*SUP 4: 0.8772 Low May 22
After inching higher Friday and marginally yesterday initially, EURGBP then
retreated off yesterday's 0.8905 high. This keeps the focus on the underlying
bearish trend targeting a return to the recent low at 0.8787, Sep 20 low. On the
upside, key resistance is at the bear channel top drawn off the Aug 12 high. The
channel intersects at 0.8929 today. An upside break would alter the broader
picture and signal a reversal. For now, the trend remains clearly bearish.
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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.