Free Trial

Focus Returns to the Downside After.....>

CABLE TECHS
CABLE TECHS: Focus Returns to the Downside
After yesterday's move higher on the release of the Brexit deal, GBPUSD's rally
showed signs of exhaustion, returning the focus to the downside. Focus returns
once again to the Nov 15 low and up trendline support from the Aug lows at
1.2724/06, and a break below here would open the August YTD lows at 1.2662. To
return to a more bullish outlook we need to see GBPUSD hold sustainably above
1.2911 (the 38.2% retracement from 1.2696-1.3258). Abover here 1.2977 and the
100/50 dmas at 1.3000/08 come into play. Above here lies the Nov 7 high at
1.3175.

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.