Free Trial

Bears Keep The Pressure On Sterling.....>

CABLE TECHS
CABLE TECHS: Bears Keep The Pressure On
Sterling has dropped back below the 1.27 level after early highs in the Asia Pac
session were fades yesterday to keep the broader bearish tone. Near-term support
comes in at 1.2648 from Friday's low. Below here would see bears focus return to
the 1.26 level & Jan 3 hourly support at 1.2555. Bulls need to recover 1.2750,
before challenging the 1.28 level. Above here opens a run at neckline
support-turned-resistance at 1.2910, with a break suggesting a bullish reversal.

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.