Free Trial

Still Trading Just Above Key..........>

EURO-STERLING
EURO-STERLING: Still Trading Just Above Key Support
*RES 4: 0.8988 High Mar 30
*RES 3: 0.8911 High Apr 1
*RES 2: 0.8864/65 High Apr 21 / High Apr 7 and key near-term resistance
*RES 1: 0.8781 High Feb 23
*PRICE: 0.8716 @ 05:41 BST Apr 30
*SUP 1: 0.8682 Low Apr 14 and bear trigger
*SUP 2: 0.8657 Low Mar 9
*SUP 3: 0.8621 Low Mar 5 and a key support
*SUP 4: 0.8592 76.6% retracement of the Feb - Mar rally
EURGBP continues to trade just above key support at 0.8682, Apr 14 low. For the
bearish theme to be cemented, the cross needs to clear this 0.8682 support. A
move below would expose 0.8621 again, Mar 5 low. On the upside, key resistance
remains 0.8865, Apr 7 high which represents a short-term hurdle for bulls. A
break is required to signal a reversal and open 0.8911, Apr 1 high and
potentially beyond. Initial resistance is at 0.8781.

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.