Free Trial

GBP/USD last trades flat at $1.3097. -........>

CABLE
CABLE: GBP/USD last trades flat at $1.3097.
- Sterling was easily the worst G10 performer on Monday, as it registered a
pullback from last week's rally, with London off for bank holiday. Cable
declined steadily through the day and finished 76 pips below Friday's close.
- The nearby cloud base, located at $1.3077, draws the initial bearish
attention. A break below here would open up the 21-DMA at $1.3024. Conversely,
bulls need a break above the 55-DMA at $1.3105 before attempting a run at
$1.3185, where the rate peaked yesterday.
- The UK awaits quite a data-heavy Friday, with domestic GDP, industrial/m'fing
output & trade balance all due on that day. Elsewhere, BoE's Cunliffe & Haldane
will speak later today, while their BoE colleague Ramsden will make a speech on
Wednesday.

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.