Free Trial

Topside Hesitation A Worry......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Topside Hesitation A Worry
*RES 4: Gbp0.8967 2018 High Mar 7 
*RES 3: Gbp0.8904 Low Mar 8 now resistance 
*RES 2: Gbp0.8870 200-DMA 
*RES 1: Gbp0.8844 High May 4
*PRICE: Gbp0.8797 @ 0930GMT
*SUP 1: Gbp0.8782 55-DMA 
*SUP 2: Gbp0.8725 Low May 9 
*SUP 3: Gbp0.8678 Low Apr 26 
*SUP 4: Gbp0.8664 Hourly breakout level Apr 18
*COMMENTARY: The aggressive rally Thursday bought bulls breathing room but the
hesitation ahead of Gbp0.8844-0.8904 where the 200-DMA is noted is less than
ideal. Bulls need a close above Gbp0.8904 to confirm a break of the 200-DMA and
to initially target 2018 highs. Bears now need a close below the 55-DMA to ease
pressure on resistance layers and below Gbp0.8725 to shift focus back to 2018
lows.

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.