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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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Bounces Off The Day Low
- RES 4: 1.2280 High Sep 7
- RES 3: 1.3174 61.8% retracement of the Sep 1 - 23 sell-off
- RES 2: 1.3151 Former trendline support drawn off the Mar 20 low
- RES 1: 1.3083 High Oct 12
- PRICE: 1.2930 @ 10:35 BST Oct 14
- SUP 1: 1.2863 Intraday low
- SUP 2: 1.2846 Low Oct 7 and key near-term support
- SUP 3: 1.2806 Low Sep 30
- SUP 4: 1.2745 Low Sep 28
GBPUSD is choppy this morning, bouncing off the earlier low. Cable traded close to a key resistance at 1.3139 Tuesday. This marks the former trendline support that was breached on Sep 10 and intersects at 1.3151 today While this resistance remains intact, recent gains are likely a correction. A clear breach of 1.3151 would strengthen a bullish argument though. The key support to watch to signal a stronger reversal lower is 1.2846, Oct 7 low.
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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.