Trial now
BOND SUMMARY

EGB/Gilt: Inching Lower

COMMODITIES

WTI Edges Off A Fresh Cycle High

EQUITIES

US Futures Moderate as S&P500 Approaches Record High

Bull Trend Remains Intact

CABLE TECHS
  • RES 4: 1.3677 76.4% retracement of the 2018 - 2020 Selloff
  • RES 3: 1.3604 1.236 proj of Mar 20 - Apr 14 rally from May 18 low
  • RES 2: 1.3514 High Dec 13, 2019 and a key resistance
  • RES 1: 1.3482 High Sep 1
  • PRICE: 1.3348 @ 10:27 BST Sep 2
  • SUP 1: 1.3267 High Aug 19 and former breakout level
  • SUP 2: 1.3186 Low Aug 28
  • SUP 3: 1.3153 20-day EMA
  • SUP 4: 1.3054 Low Aug 24 and the bear trigger

The GBPUSD bull trend remains intact despite retracing from yesterday's 1.3482 high. Last week's break of 1.3267, Aug 19 high, confirmed a resumption of the uptrend that has been in place since the March lows. Attention is on the next major resistance at 1.3514, Dec 13, 2019 high. One concern for bulls is yesterday's daily close and a bearish candle pattern, a "shooting star". We will monitor this. 1.3267 marks initial support.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com