Free Trial

Key Resistance Is 1.2529 *RES 4:........>

CABLE TECHS
CABLE TECHS: Key Resistance Is 1.2529
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2726 Low Feb 28
*RES 2: 1.2648 High Apr 14 and the bull trigger
*RES 1: 1.2529 High Apr 16 and key intraday resistance
*PRICE: 1.2434 @ 10:24 BST Apr 29
*SUP 1: 1.2360 Low Apr 27
*SUP 2: 1.2298 Low Apr 24
*SUP 3: 1.2248 Low Apr 21 and the bear trigger
*SUP 4: 1.2162 2.0% 10-dma envelope
GBPUSD maintains a near-term positive tone despite stalling at yesterday's high.
Current gains are likely a correction though as long as resistance at 1.2529,
Apr 16 high remains intact. A breach would instead signal scope for a stronger
climb and expose 1.2648, the Apr 14 high and the key resistance. Key near-term
support has been defined at 1.2248, Apr 21 low. This level is also the bear
trigger.

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.