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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.
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Free AccessMNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
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Continuation Lower Would Expose The 50-Day EMA
- RES 4: 1.3237 Bull channel top drawn from the Mar 8 low
- RES 3: 1.3142 High Jul 14 and the bull trigger
- RES 2: 1.3045 High Jul 19
- RES 1: 1.2965 High Jul 20
- PRICE: 1.2866 @ 16:35 BST Jul 25
- SUP 1: 1.2801/2798 61.8% of the Jun-Jul Upleg / Low Jul 24
- SUP 2: 1.2751 Low Jul 10
- SUP 3: 1.2719 50-day EMA
- SUP 4: 1.2685 Bull channel base drawn from the Mar 8 low
GBPUSD traded lower Monday, extending the losing streak to seven consecutive sessions (the longest since August last year). Price has pierced 1.2801 - the 61.8% retracement for the Jun-Jul upleg. A clear break would expose the 50-day EMA which intersects at 1.2719. The base of the bull channel, drawn from the Mar 8 low, crosses at 1.2685 today and represents a key trend support. Initial firm resistance is at 1.2965, the Jul 20 high.
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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.