MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bear Threat Remains Present

GBPUSD TECHS
  • RES 4: 1.3237 Bull channel top drawn from the Mar 8 low
  • RES 3: 1.3142 High Jul 14 and the bull trigger
  • RES 2: 1.3045 High Jul 19
  • RES 1: 1.2965 High Jul 20
  • PRICE: 1.2927 @ 16:15 BST Jul 26
  • SUP 1: 1.2801/2798 61.8% of the Jun 29 - Jul 14 Upleg / Low Jul 24
  • SUP 2: 1.2751 Low Jul 10
  • SUP 3: 1.2726 50-day EMA
  • SUP 4: 1.2693 Bull channel base drawn from the Mar 8 low

GBPUSD found support Tuesday, however, the short-term outlook remains bearish. Price has pierced 1.2801 - the 61.8% retracement of the Jun 29 - Jul 14 upleg. A clear break would expose the 50-day EMA at 1.2726. The base of the bull channel, drawn from the Mar 8 low, crosses at 1.2693 today and represents a key trend support point. Initial firm resistance is at 1.2965, the Jul 20 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.