Free Trial

Weaker Below 50-day EMA

EURO-STERLING TECHS
  • 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: 0.9020 @ 17:13 BST Oct 21
  • SUP 1: 0.9017 2% Lower Bollinger Band
  • 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

Despite early technical conditions looking bullish, EURGBP reverted lower into the London close, with markets falling convincingly through the 50-day EMA at 0.9071. Bulls will be looking for price to remain above 0.9007 and a break though would signal the resumption of bearish pressure. Resistance has been defined at 0.9149.

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.