Free Trial

Bull flag: *RES 4: 1.2558 High Jul 18...>

CABLE TECHS
CABLE TECHS: Bull flag:
*RES 4: 1.2558 High Jul 18
*RES 3: 1.2521/22 100-dma / High Jul 24
*RES 2: 1.2427 38.2% retracement 1.3185 - 1.1959
*RES 1: 1.2385 High Sep 9
*PRICE: 1.2334 @ 03:25 GMT Sep 13
*SUP 1: 1.2280/84 50-dma / Low Sep 12
*SUP 2: 1.2234/10 Low Sep 9 and Sep 5
*SUP 3: 1.2138 Former channel top drawn off the May 6 high
*SUP 4: 1.2079 Low Sep 4
GBPUSD outlook unchanged. Prices continue to hold close to the upper end of the
recent range with current consolidation taking on the appearance of a bull flag.
This maintains the bullish outlook and adds weight to the argument that recent
recovery is likely to extend. The focus is on the 1.2427 Fibonacci retracement
and the 100-dma, currently at 1.2521. Support lies at 1.2234, Monday's low ahead
of the 1.2210-2138 zone, Sep 5 low and the former channel top.

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.