Free Trial

Briefly Above 1.30 Positive Brexit......>

CABLE TECHS
CABLE TECHS: Briefly Above 1.30
Positive Brexit headlines saw GBPUSD briefly trade above 1.3000, before broad
USD demand following the strong NFP report pared gains. Bulls need to close
above the 50-dma at 1.3008 for the next leg higher, a level which has been hard
to overcome in recent sessions. Above here shifts the outlook firmly bullish,
suggesting a basing pattern has formed. Bears continue to focus on the 1.2800
level, a close below here would trigger renewed selling pressure, bringing the
ytd low at 1.2662 back into view.

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.