Free Trial

Gains Seen Likely *RES 4: 1.3328........>

CABLE TECHS
CABLE TECHS: Gains Seen Likely
*RES 4: 1.3328 76.4% retracement of the Dec 13 - Feb 28 decline
*RES 3: 1.3284 High Dec 31
*RES 2: 1.3215 High Feb 3 and key resistance
*RES 1: 1.3200 High Mar 9
*PRICE: 1.2932 @ 16:43 GMT Mar 10
*SUP 1: 1.2914 Low Mar 6
*SUP 2: 1.2861 Low Mar 5
*SUP 3: 1.2726 Low Feb 28 and key support
*SUP 4: 1.2709 200-dma
GBPUSD's current recovery remains in place despite the pullback in prices
Tuesday. Last week's gains changed the S/T outlook. The breach of an important
near-term resistance at 1.3018, the Feb 25 high on Friday represented an
important bullish break and clears the way for a climb towards 1.3215, Feb 3
high now that 1.3070, Feb 13 high has also been breached. Bears need a return
below 1.2861, Mar 5 low to suggest the return of a bearish threat.

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.