Free Trial

Key resistance At 1.3013 *RES 4:........>

CABLE TECHS
CABLE TECHS: Key resistance At 1.3013
*RES 4: 1.3080 High May 8
*RES 3: 1.3045 76.4% retracement of Mar 13 - Sep 3 decline
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2955 Intraday high
*PRICE: 1.2941 @ 09:33 GMT Oct 31
*SUP 1: 1.2789 Low Oct 24
*SUP 2: 1.2750/14 Low Oct 17 / 200-DMA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2516 Low Oct 14
GBPUSD continues to push higher maintaining this weeks recovery. Recent weakness
down to 1.2789 has been viewed as a correction. There still remains the
possibility we'll see a deeper sell-off before stronger bullish activity
resumes, as the uptrend since Oct 8 has been steep. The trigger is for an
extension lower is 1.2789, Oct 24 low. This would open 1.2714, the 200-DMA and
1.2603, Oct 15 low. On the upside, the bull trigger is 1.3013, Oct 21 high.

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.