Free Trial

Back Below 1.30 The rally in GBPUSD.....>

CABLE TECHS
CABLE TECHS: Back Below 1.30
The rally in GBPUSD yesterday failed ahead of the 1.3050 level seeing the pair
drop back below 1.30 to keep the bearish trend intact. The next support level
comes in at 1.2922 (Oct 4 lows) with the 61.8% retracement from 2016 lows to
2018 highs at 1.2810 and the 2018 lows at 1.2662. Bulls need to initially break
and close above up trendline resistance at 1.3018 and recover the 100-dma at
1.3083 to improve the near-term outlook and close back above 1.32 to regain
momentum, before targeting the Sep 20 high at 1.3298.

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.