Free Trial

Fatigued Bulls Lead to Poor Weekly......>

CABLE TECHS
CABLE TECHS: Fatigued Bulls Lead to Poor Weekly Close
*RES 4: 1.2813 High Jun 10 and the bull trigger
*RES 3: 1.2755 High Jun 11
*RES 2: 1.2688 High Jun 16 and key near-term resistance
*RES 1: 1.2567 High Jun 18
*PRICE: 1.2370 @ 16:30 BST Jun 19
*SUP 1: 1.2349 Low Jun 19
*SUP 2: 1.2358 61.8% retracement of the May 18 - Jun 10 rally
*SUP 3: 1.2322 Low Jun 1
*SUP 4: 1.2250 76.4% retracement of the May 18 - Jun 10 rally
Having weakened off the back of the BoE decision, GBP/USD fell further Friday to
take out the 61.8% Fib support at 1.2358. This marks an extension of the
pullback that started on Jun 10 following an inability to extend the break of
the April highs. Firm resistance has been defined at 1.2688, Jun 16 high.

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.