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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.
GBPUSD TECHS
- Looking at the long-term chart, activity during August resulted in a monthly close below the 1.2000 handle. This is the first time this has happened since the 1984/85 period. A September close below 1.2000 looks likely.
- The latest move below 1.2000 also means that we've likely seen the end of a sideways range bound phase in the pair that started in October 2016. This highlights an important range breakout.
- Short, medium and long-term trend signals remain bearish at this stage.
- Finally, we also have the scenario, where USD strength together with Sterling weakness is weighing on the pair.
- The next major support to watch is 1.0520, the Feb 1985 low. If that is breached, it would expose parity.
- Time will tell whether a major reversal develops between current levels (1.1300/1400) and parity in the months ahead.
- Until then the risk is clearly skewed to the downside and parity appears exposed.
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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