Free Trial

Focus Reverts To Key Support *RES 4:....>

CABLE TECHS
CABLE TECHS: Focus Reverts To Key Support
*RES 4: 1.2726 Low Feb 28
*RES 3: 1.2643/48 High Apr 13 /High Apr 14 and the bull trigger
*RES 2: 1.2516 High May 4
*RES 1: 1.2450 High May 6
*PRICE: 1.2350 @ 10:30 BST May 7
*SUP 1: 1.2298 Low Apr 24
*SUP 2: 1.2248 Low Apr 21 and the bear trigger
*SUP 3: 1.2166 Low Apr 7 and a key support
*SUP 4: 1.2132 Low Mar 27
GBPUSD traded weaker Wednesday and remains vulnerable. Attention has recently
been on resistance at 1.2648, Apr 14 high. A break is required to confirm a
resumption of the uptrend since Mar 20 and open 1.2726, Feb 28 low. Following
this week's pullback though, attention now turns to key support at 1.2248, Apr
21 low. A breach if seen, would highlight a reversal. 1.2298 is initial support.

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.