Free Trial

Deflated *RES 4: 1.3215 High Feb 3......>

CABLE TECHS
CABLE TECHS: Deflated
*RES 4: 1.3215 High Feb 3 and key resistance
*RES 3: 1.3129 76.4% retracement of the Feb 3 - Feb 20 decline
*RES 2: 1.3070/75 High Feb 13 / 61.8% of the Feb 3 - Feb 20 decline
*RES 1: 1.3032/70 50-dma / High Feb 5 and 13
*PRICE: 1.2874 @ 17:01 GMT Feb 27
*SUP 1: 1.2849 Low Feb 20 and key support
*SUP 2: 1.2840 1.0% 10-dma envelope
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
GBPUSD traded softer Thursday. The pair has failed thus far failed to build on
the recovery off last Thursday's low. Ultimately, a break above 1.3070, Feb 13
high is required to signal a developing bullish theme. A breach would be
positive and signal scope for an extension towards 1.3215, Feb 3 high and also
the key resistance. While 1.3070 remains intact though, a bearish threat
dominates. Sub 1.2849 levels would resume the downtrend.

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.