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Free AccessBulls Target Close Above 1.2763 key.....>
CABLE TECHS: Bulls Target Close Above 1.2763 key resistance:
*RES 4: 1.2865 Apr 25 low
*RES 3: 1.2816 50-DMA
*RES 2: 1.2813 High May 21
*RES 1: 1.2767 Intraday high
*PRICE: 1.2734 @ 08:45 GMT June 24
*SUP 1: 1.2651/46 100-hma/200-hma
*SUP 2: 1.2633 Former trendline resistance, now support
*SUP 3: 1.2543 Low Jun 19
*SUP 4: 1.2476 Low Dec 12, 2018
Cable remains bullish following last week's trendline break. Momentum is rising
and further gains are favoured with the focus on the 1.2763 resistance. A
positive close above would likely encourage bulls further and trigger fresh
buying interest opening 1.2813, the May 21 high. A move above 1.2763 would also
confirm the bullish divergence between price and momentum. The former trendline
resistance now acts as support and intersects at 1.2633 today.
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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.