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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.
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Free AccessHits Bear Trigger
- RES 4: 1.2659 50-day EMA
- RES 3: 1.2599 High Jun 7
- RES 2: 1.2517 20-day EMA
- RES 1: 1.2431 Low Jun 7
- PRICE: 1.2146 @ 16:08 BST Jun 13
- SUP 1: 1.2124 Low Jun 13
- SUP 2: 1.2104 3.0% 10-dma envelope
- SUP 3: 1.2081 76.4% retracement of the Mar ‘21 - Jan ‘21 bull cycle
- SUP 4: 1.2000 Psychological round number
GBPUSD losses accelerated Monday, falling well through the bear trigger at 1.2156 and fully reversing the bull cycle that had taken place between May 13 - 27. A number of short-term support levels have been cleared signalling potential for weakness towards the psychological 1.20 handle. This puts the pair at the lowest levels since 2020 and the pandemic-induced lows. On the upside, initial resistance is seen at 1.2517, the 20-day EMA.
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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.