MNI BRIEF: Canada Remains Willing To Tax Oil Exports To U.S.

CANADA STILL CONSIDERING TAX ON OIL EXPORTS TO US- OFFICIAL

CANADA NOV BUDGET DEFICIT CAD8.2 BLN VS YEAR AGO CAD4.0 BLN

MNI BRIEF: Fed's Goolsbee Supports Slowing Rate Cuts

MNI BRIEF: US Dec Core PCE Inflation In Line With Expectations

MNI BRIEF: Fed's Bowman Wants Inflation Progress Before Cuts

MNI: BAKER HUGHES US RIG COUNT 582; OIL RIGS 479; GAS RIGS 98

BAKER HUGHES CANADA RIG COUNT 258; OIL RIGS 186; GAS RIGS 72

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GBPUSD TECHS: Bearish Outlook Intact

GBPUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.2607 High Dec 30
  • RES 3: 1.2597 50-day EMA     
  • RES 2: 1.2398 20-day EMA 
  • RES 1: 1.2322 High Jan 10 
  • PRICE: 1.2211 @ 06:11 GMT Jan 17
  • SUP 1: 1.2100 Low Jan 10 and the bear trigger 
  • SUP 2: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing
  • SUP 3: 1.2037 Low Oct 4 ‘23 and a key support 
  • SUP 4: 1.2000 Psychological round number      

The trend direction in GBPUSD remains down and short-term gains are considered corrective. Recent weakness has confirmed a resumption of the downtrend and marks an extension of the price sequence of lower lows and lower highs. Note too that moving average studies are in a bear-mode position, highlighting a dominant bear trend. Sights are on 1.2087 next, a Fibonacci projection. Initial firm resistance is at 1.2398, the 20-day EMA.

139 words

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.
  • RES 4: 1.2607 High Dec 30
  • RES 3: 1.2597 50-day EMA     
  • RES 2: 1.2398 20-day EMA 
  • RES 1: 1.2322 High Jan 10 
  • PRICE: 1.2211 @ 06:11 GMT Jan 17
  • SUP 1: 1.2100 Low Jan 10 and the bear trigger 
  • SUP 2: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing
  • SUP 3: 1.2037 Low Oct 4 ‘23 and a key support 
  • SUP 4: 1.2000 Psychological round number      

The trend direction in GBPUSD remains down and short-term gains are considered corrective. Recent weakness has confirmed a resumption of the downtrend and marks an extension of the price sequence of lower lows and lower highs. Note too that moving average studies are in a bear-mode position, highlighting a dominant bear trend. Sights are on 1.2087 next, a Fibonacci projection. Initial firm resistance is at 1.2398, the 20-day EMA.