Free Trial

GBP remains on the defensive and extends......>

CABLE
CABLE: GBP remains on the defensive and extends the corrective pullback to
$1.2653. The underlying tone seen heavy with next support at $1.2637 from the
61.8% retracement of $1.2559-1.2763, a break opens the Jun 3 low & 76.4%
retracement at $1.2611/07.
- EURGBP further accelerates the earlier break of Gbp0.89 to print multi-month
highs of Gbp0.8929. Topside focus turns to the 2% upper Bollinger band & 1.0%
10-dma envelope at 0.8932/45, above here opens a run at the 76.4% retracement of
the Jan-Mar fall at 0.8958.

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.