Free Trial

Still Heavy! *RES 4: 0.8717 High......>

EURO-STERLING
EURO-STERLING: Still Heavy!
*RES 4: 0.8717 High Oct 16
*RES 3: 0.8676 High Oct 24 and a key upside trigger
*RES 2: 0.8630 High Nov 8
*RES 1: 0.8605 High Nov 22 and key near-term resistance
*PRICE: 0.8526 @ 05:34 GMT Nov 29
*SUP 1: 0.8500 Low Nov 28
*SUP 2: 0.8491 Low May 6 and major support
*SUP 3: 0.8482 1.00 projection of Aug 12 - Sep 20 decline from Oct 10 high
*SUP 4: 0.8473 - Low Mar 13 primary support
EURGBP traded lower Wednesday breaching support at 0.8522, Nov 18 low to confirm
a resumption of the broader downtrend. The move lower paves the way for a test
of 0.8491, May 6 low where a break would also open 0.8473, Mar 13 low. Note, a
0.8473 print would represent a 100% retracement of the entire May 6 - Aug 12
rally. Key resistance has been defined at 0.8605, Nov 22 high.

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.