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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA OPEN: Nov Job Gains, Fed Blackout, CPI/PPI Ahead
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MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
GBPUSD TECHS: Bear Leg Extends
- RES 4: 1.3044 High Jul 17 and the bull trigger
- RES 3: 1.2968 High Jul 19
- RES 2: 1.2938 High Jul 24
- RES 1: 1.2811 20-day EMA
- PRICE: 1.2697 @ 06:02 BST Aug 8
- SUP 1:1.2665 Intraday low
- SUP 2: 1.2613 Low Jun 27 and a key support
- SUP 3: 1.2584 50.0 retracement of the Apr 22 - Jul 17 bull cycle
- SUP 4: 1.2510 Low May 14
GBPUSD remains in bear-mode condition and is trading lower today. The move down this month has resulted in a break of the 50-day EMA and a trendline - at 1.2783 - drawn from the Apr 22 low. The clear break of the EMA and the trendline, suggests scope for a test of 1.2672 next, a Fibonacci projection. This level has been pierced, a clear break would confirm a resumption of the bear leg. Initial resistance is at 1.2811, the 20-day EMA.
To read the full story
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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.