MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

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

Key Short-Term Resistance Remains Intact - For Now

GBPUSD TECHS
  • RES 4: 1.2680 High May 10 and the bull trigger
  • RES 3: 1.2641 High May 11
  • RES 2: 1.2592 76.4% retracement of the May 10 - 25 bear cycle
  • RES 1: 1.2461/2545 High Jun 5 / High Jun 2 and key resistance
  • PRICE: 1.2410 @ 16:25 BST Jun 6
  • SUP 1: 1.2348/2308 Low May 31 / 25 and the bear trigger
  • SUP 2: 1.2275 Low Apr 3
  • SUP 3: 1.2242 50.0% retracement of the Mar 8 - May 10 bull run
  • SUP 4: 1.2213 Low Mar 27

GBPUSD traded lower Tuesday but did find support at the day low. The latest pullback highlights a bearish threat and key short-term resistance has been defined at Friday’s 1.2545 high. Note too that, despite a brief test above it last week, the 61.8% retracement of the May 10 - 25 downleg at 1.2538 remains intact. A continuation lower would open 1.2308, May 25 low and key support. Clearance of Friday’s high is required to reinstate the recent bull cycle.

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.