Free Trial

1.3013 - 1.2769 Range Still Intact......>

CABLE TECHS: 1.3013 - 1.2769 Range Still Intact
*RES 4: 1.3130 1.50 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3048 High May 10
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2985 High Nov 18
*PRICE: 1.2934 @ 05:34 GMT Nov 28
*SUP 1: 1.2824 Low Nov 22
*SUP 2: 1.2769 Low Nov 8 and bear trigger
*SUP 3: 1.2703 200-day MA
*SUP 4: 1.2658 Low Oct 16
GBPUSD was firmer yesterday however the pair continues to trade within the range
that has developed since prices peaked at 1.3013 on Oct 21. From a broader trend
perspective, the outlook remains bullish and the consolation is viewed as a
potential bull flag formation. If correct, this suggests an eventual break
higher to confirm a resumption of the uptrend. 1.3013 is resistance and the bull
trigger. On the downside, the key support is at 1.2769, Nov 8 low.

To read the full story



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.