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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.
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Free AccessGBP Eases Off Highs, Awaits UK Employment/Earnings at 0700GMT
- Monday's release of PM Johnson's road map out of COVID restrictions provided GBP with a further boost, took cable outside of its 4-month bull channel at $1.4071 to $1.4086, but this line continues to have influence, currently at $1.4081.
- Rate eased to $1.4058 before closing at $1.4065.
- Asia edged rate back to an eventual high of $1.4084 before it was knocked back to $1.4064 ahead of the European open in a move seen as position adjustment with UK Employment/Earnings data due for release at 0700GMT.
- Resistance remains between $1.4080/85 with near term swing targets noted close above at $1.4096(1.618% swing proj. 1.4052-1.3981) ahead of $1.4103 (1.618% swing proj. 1.4086-58). Support $1.4060/50 ahead of $1.4035/20.
- Interesting to note that EUR/GBP achieved its swing target at Gbp0.8633 where it met support with mild recovery providing some counter to GBP/USD gains.
- Month end approaching with chance we see US corporate USD demand emerge for Friday value(Wednesday), though month-end models report that GBP/USD could see decent demand emerge at the Friday fixes.
- CBI Reported Sales due at 1100GMT. US Housing data at 1400GMT with main focus on Fed Powell at 1500GMT.
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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.