RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI BRIEF: China Profits Fall In October Y/Y

MNI China Press Digest Nov 27: Insurance, Tax, U.S. Trade

MNI: PBOC Net Drains CNY33.8 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1982 Weds; -1.45% Y/Y

RBNZ SEES RISK OF MID-TERM INFLATION VOLATILITY

MNI: RBNZ CUTS OCR 50BP TO 4.25%

MNI: AUSTRALIA MONTHLY OCT CPI 0.1% MM, 2.3% YY

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Heading South

GBPUSD TECHS
  • RES 4: 1.311250-day EMA
  • RES 3: 1.3090/3147 High Apr 21 / High Apr 14
  • RES 2: 1.2974 Low Apr 13 and a recent breakout level
  • RES 1: 1.2772/2877 High Apr 26 / High Apr 25
  • PRICE: 1.2506 @ 06:21 BST Apr 28
  • SUP 1: 1.2503 Low Apr 27
  • SUP 2: 1.2495 61.8% retracement of the Mar 2020 - Jan 21 bull leg
  • SUP 3: 1.2423 2.236 proj of the Mar 23 - Apr 13 - 14 price swing
  • SUP 4: 1.2375 2.382 proj of the Mar 23 - Apr 13 - 14 price swing

Bearish pressure in GBPUSD continues to dominate. Recent weakness has resulted in an acceleration of the downtrend. The pair has cleared 1.2974, Apr 13 low and 1.2676, last printed in September 2020. The trend remains oversold: the 14d RSI is now below 21 - the lowest point since March 2020 and the initial wave of lockdowns that followed COVID. A reversal pattern is still required to signal a base. The focus is 1.2495, a Fibonacci retracement.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.