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Free AccessVolatile Price Action And The Cross Weakens
- RES 4: 0.9183 61.8% retracement of the Sep 11 - Oct 14 sell-off
- RES 3: 0.9169 1.0% 10-dma envelope
- RES 2: 0.9162 High Oct 7
- RES 1: 0.9149 Oct 20 high
- PRICE: 0.9078 @ 10:37 BST Oct 21
- SUP 1: 0.9071 50-day EMA
- SUP 2: 0.9007 Low Oct 14
- SUP 3: 0.9000 Round number support
- SUP 4: 0.8967 76.4% retracement of the Sep 3 - 11 rally
EURGBP technical conditions at the start of today's session looked promising for bulls. With volatile price action continuing to dominate and Sterling firming today, the cross has reversed a large portion of its most recent gains. Resistance has been defined at 0.9149, Oct 20 high with key support at 0.9007, Oct 14 low. Bulls will be looking for price to remain above 0.9007. A break though would signal the 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.