Free Trial

Cycle lows in view: *RES 4: 1.2416/60...>

CABLE TECHS: Cycle lows in view:
*RES 4: 1.2416/60 Trendline off May 6 high/High Jul 26
*RES 3: 1.2382 Low Jul 17
*RES 2: 1.2250 High Jul 31
*RES 1: 1.2210 High Aug 6
*PRICE: 1.2115 @ 08:26 GMT Aug 09
*SUP 1: 1.2080 Cycle low
*SUP 2: 1.2000 Psychological round number
*SUP 3: 1.1986 Low Jan 16 2017
*SUP 4: 1.1982 Bear channel base drawn off the May 6 high
Soft UK GDP data keeps sterling on the defensive holding toward the lower end of
its $1.2088-1.2210 weekly range. This brings the Aug 1 ytd low back into view at
1.2080, ahead of the psychological 1.20 level & post-referendum lows at 1.1841.
Bulls need to clear the previously hard to overcome 1.2205/10 area, before
challenging the Jul 31 high.

To read the full story



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.