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Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: PBOC Net Drains CNY216 Bln via OMO Monday
Bearish Focus
- RES 4: 0.8762 1.00 proj of the Apr 14 - May 12 - 17 price swing
- RES 3: 0.8721 High May 26 2021 and Jun 15 / bull trigger
- RES 2: 0.8627/79 High Jul 4 / High Jul 1
- RES 1: 0.8540 High Jul 19
- PRICE: 0.8520 @ 15:55 BST Jul 19
- SUP 1: 0.8403 Low Jul 13
- SUP 2: 0.8393 Low May 17 and a key support
- SUP 3: 0.8367 Low May 2
- SUP 4: 0.8313 Low Apr 22
EURGBP conditions still appear bearish despite the latest recovery from 0.8403, the Jul 13 low. The cross remains below the 50-day EMA and scope is seen for a deeper retracement with attention on support at 0.8393, the May 17 low. Clearance of this level would strengthen a bearish case. On the upside, initial resistance is seen at 0.8540, the Jul 19 high. A clear breach here is required to signal a possible reversal.
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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.