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Free AccessKey Support Is 1.2849 *RES 4: 1.3215....>
CABLE TECHS: Key Support Is 1.2849
*RES 4: 1.3215 High Feb 3 and key resistance
*RES 3: 1.3129 76.4% retracement of the Feb 3 - Feb 20 decline
*RES 2: 1.3075 61.8% retracement of the Feb 3 - Feb 20 decline
*RES 1: 1.3047/70 50-dma / High Feb 5 and 13
*PRICE: 1.2899 @ 10:28 GMT Feb 24
*SUP 1: 1.2849 Low Feb 20 and key support
*SUP 2: 1.2840 1.0% 10-dma envelope
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
GBPUSD is under some pressure this morning. Although the recovery off Thursday's
low is encouraging for bulls, a stronger move higher is required to strengthen a
bullish argument. Attention is on resistance at 1.3070, Feb 13 high. This would
signal scope for an extension towards 1.3215, the Feb 3 high and also key
near-term resistance. While 1.3070 remains intact though, a bearish threat
dominates. Sub 1.2849 levels would resume the downtrend.
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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.