Free Trial

Targeting break of 0.90: *RES...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Targeting break of 0.90:
*RES 4: 0.9108 High Jan 3 and major resistance
*RES 3: 0.9062 High Jan 11
*RES 2: 0.9000 Psychological round number
*RES 1: 0.8992 Intraday high
*PRICE: 0.8980 @ 09:02 GMT June 28
*SUP 1: 0.8932/16 200-hma/Low Jun 25
*SUP 2: 0.8873 Low Jun 20
*SUP 3: 0.8851 Low Jun 7
*SUP 4: 0.8839/30 100-wma/Low Jun 6
Talk of month-end corporate demand boosted EURGBP through 0.8990 to maintain an
outright bullish tone. Potential is seen to challenge the key psychological 0.90
level with a break here likely to accelerate the move. For bears, the 200-hma &
Jun 25 low represent key support at 0.8932/16. Broader trend support has been
defined at 0.8873 where a break is required to instead highlight a bearish
reversal.

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.