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CABLE TECHS
  • RES 4: 1.3200 High Mar 9 and a key resistance
  • RES 3: 1.3191 2.0% 10-dma envelope
  • RES 2: 1.3130 High Mar 10
  • RES 1: 1.3072 High Jul 30
  • PRICE: 1.3031 @ 16:34 BST Jul 30
  • SUP 1: 1.2838/2781 Low Jul 28 / Low Jul 27
  • SUP 2: 1.2717 Low Jul 24
  • SUP 3: 1.2696 20-day EMA
  • SUP 4: 1.2644 Low Jul 22

GBPUSD extended this week's rally to strike a new cycle high, keeping the bullish theme intact. The pair Monday cleared resistance at 1.2813 Jun 10 high, confirming a resumption of the broader uptrend that has been in place since the reversal on Mar 20. The 1.2977, Mar 11 high objective has been achieved and attention is on 1.3020, a Fibonacci projection. Firm near-term support is 1.2644, Jul 22 low. Initial support is at 1.2838.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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