Free Trial

Keeps Pressure on Recent Highs *RES.....>

CABLE TECHS
CABLE TECHS: Keeps Pressure on Recent Highs
*RES 4: 1.2755 High Jun 11
*RES 3: 1.2721 2.0% 10-dma envelope
*RES 2: 1.2698 200-dma
*RES 1: 1.2670/88 High Jul 9 / High Jun 16
*PRICE: 1.2649 @ 16:40 BST Jul 10
*SUP 1: 1.2509 Low Jul 8
*SUP 2: 1.2438 Low Jul 3 and key near-term support
*SUP 3: 1.2360 Low Jul 1
*SUP 4: 1.2252 Low Jun 29 and the bear trigger
GBPUSD kept the pressure on the recent highs into the Friday close, making for a
strong weekly close in the pair. This extends the strong recovery off 1.2252,
Jun 29 low and the recent breach of 1.2543, Jun 24 high. A resumption of
strength would open 1.2813, Jun 10 high. Initial support lies at 1.2509, Jul 8
low.

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.