Free Trial

Back on The Defensive Soft UK...........>

CABLE TECHS
CABLE TECHS: Back on The Defensive
Soft UK Services PMI set the tone with GBPUSD extending its corrective pullback
through 1.30. A close below 1.2950 would see bears regain control, targeting the
38.2% retracement level at 1.2921, ahead of the 100-dma at 1.2896. Bulls need to
recover the 200-dma at $1.3033 to stabilise the outlook, with topside focus on a
break of 1.3160 which triggers a bullish pennant formation.

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.