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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.
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Trading Below Recent Highs
- RES 4: 0.8670 High Jul 20 and key resistance
- RES 3: 0.8659 High Jul 21
- RES 2: 0.8618 76.4% retracement of the Jul 20 - Aug 10 sell-off
- RES 1: 0.8592/94 100-dma / High Aug 23
- PRICE: 0.8553 @ 06:10 BST Aug 26
- SUP 1: 0.8535 20-day EMA
- SUP 2: 0.8506 Low Jul 19
- SUP 3: 0.8484 Low Aug 16
- SUP 4: 0.8450 Low Aug 10 and a key support
EURGBP is trading below recent highs. Last week the cross traded back through both the 20- and 50-day EMAs. This signals scope for further gains near-term. Attention is on the 100-dma next at 0.8593 that was briefly probed Monday. Gains are still considered corrective though and from a trend perspective, the outlook is bearish. A return lower and a break of initial firm support at 0.8506, Aug 19 low would signal a resumption of bearish pressure.
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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.