MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Bearish Focus

CABLE TECHS
  • RES 4: 1.3045 Former trendline support drawn off the Mar 20 low
  • RES 3: 1.3007 High Sep 16 and key near-term resistance
  • RES 2: 1.2984 38.2% retracement of the Sep 1 - 23 sell-off
  • RES 1: 1.2978 High Oct 1
  • PRICE: 1.2865 @ 05:49 BST Oct 2
  • SUP 1: 1.2806 Low Sep 30
  • SUP 2: 1.2745 Low Sep 28
  • SUP 3: 1.2676 Low Sep 23 and the bear trigger
  • SUP 4: 1.2670 High Jul 9

GBPUSD had a particularly volatile session Thursday. Technical signals remain bearish and recent gains have likely been a correction. Price action yesterday stalled at 1.2978. Further weakness would expose 1.2806, Sep 30 low and a breach here would open 1.2676, Sep 23 low. Note too that despite coming under pressure this week, resistance around the 20-and 50-day EMAs remains, reinforcing bearish signals. 1.2978 is the first resistance.

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.