Free Trial

Testing 200-DMA Support.........>

EURO-STERLING TECHS: Testing 200-DMA Support
EURGBP broke below the Sep 20 lows yesterday giving more weight to the bearish
case. The 200-dma is now under threat at 0.8840 and a close below here would
suggest a large topping pattern is playing out, opening the ytd low at 0.8620.
Bulls need to clear 0.8920 to return the focus to the upside, above here opens
the double-top resistance area at 0.8995/00, ahead of the ytd high at 0.9098.

To read the full story



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.