Free Trial

1.2740/45 Proving Hard to Overcome......>

CABLE TECHS
CABLE TECHS: 1.2740/45 Proving Hard to Overcome
GBPUSD breached the trendline off Mar highs, extended the recovery to 1.2742
before meeting resistance from a previous series of highs. The 1.2740/45 level
is starting to grow in importance with a break here needed to extend the
uptrend. Any move above the May 21 high at 1.2813 would suggest a bullish
reversal is in play. Bears need to clear the 200-hma & 50% retracement of
$1.2559-1.2744 at 1.2659/52, before returning the focus to the 1.26 level, ahead
of the ytd low at 1.2559.

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.