Free Trial

Challenging Nov 16 Lows At the time.....>

CABLE TECHS
CABLE TECHS: Challenging Nov 16 Lows
At the time of writing, GBPUSD is just short of challenging the Nov16 low of
1.2762. Pessimism is beginning to pick up surrounding the UK once again and a
break below here would confirm the end of the recovery. Below is the Nov15 low
and trendline support from the Aug lows at 1.2724/06 ahead of the August YTD
lows at 1.2662. To reignite upside momentum, bulls need to break above
yesterday's high at 1.2883 and then the 100-dma at 1.3008. Above here would open
the Nov 7 high at 1.3175.

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.