MNI BRIEF: BOJ’s JGB Unrealised Loss Rises To JPY13.7 Tlrn

MNI BRIEF: Riksbank Dec Cut On If Things Hold - Jansson

RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI BRIEF: China Profits Fall In October Y/Y

MNI China Press Digest Nov 27: Insurance, Tax, U.S. Trade

MNI: FRANCE NOV CONSUMER SENTIMENT 90

RBNZ SEES RISK OF MID-TERM INFLATION VOLATILITY

MNI: RBNZ CUTS OCR 50BP TO 4.25%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Corrective Bounce Extends

GBPUSD TECHS
  • RES 4: 1.3854 High Sep 15
  • RES 3: 1.3740 50-day EMA
  • RES 2: 1.3657 20-day EMA
  • RES 1: 1.3640 High Oct 04
  • PRICE: 1.3593 @ 06:14 BST Oct 5
  • SUP 1: 1.3532/3412 Low Oct 4 / Low Sep 29 and the bear trigger
  • SUP 2: 1.3354 Low Dec 23, 2020
  • SUP 3: 1.3325 2.0% 10-dma envelope
  • SUP 4: 1.3277 61.8% retracement of the Sep '20 - Jan bull phase

GBPUSD traded higher again yesterday. Despite recent gains, Cable maintains a bearish theme. This follows last week's move lower and the breach of a triangle base drawn from the Jul 20 low. Note too that moving average studies are in a bear mode reinforcing current conditions and this exposes levels not seen since late December last year - 1.3354 marks the next target, Dec 23, 2020 low. Initial resistance is seen at 1.3640.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.