MNI BRIEF: Japan Nov Sentiment, Outlook Indexes Rise

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Corrective Pullback

GBPUSD TECHS
  • RES 4: 1.1738 High Sep 13 and a key resistance
  • RES 3: 1.1590 High Sep 14
  • RES 2: 1.1510 50-day EMA
  • RES 1: 1.1241/1495 20-day EMA / High Oct 5 and the bull trigger
  • PRICE: 1.1035 @ 06:08 BST Oct 11
  • SUP 1: 1.0922 50.0% retracement of Sep 26 - Oct 5 bull cycle
  • SUP 2: 1.0787 61.8% retracement of Sep 26 - Oct 5 bull cycle
  • SUP 3: 1.0541/0350 Low Sep 28 / All Time Low
  • SUP 4: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing

GBPUSD traded lower Monday, extending the pullback from last week’s high of 1.1495 on Oct 5. At this stage, the move lower appears to be a correction of the rally between Sep 26 - Oct 5. A continuation lower would open 1.0922 and 1.0787, Fibonacci retracement levels. Key support and the primary bear trigger is still far-off at 1.0350, the Sep 26 low. Key short-term resistance is at 1.1495, a break would resume recent bullish activity.

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.