Free Trial

Looking For Gains *RES 4: 1.3328........>

CABLE TECHS
CABLE TECHS: Looking For Gains
*RES 4: 1.3328 76.4% retracement of the Dec 13 - Feb 28 decline
*RES 3: 1.3284 High Dec 31
*RES 2: 1.3215 High Feb 3 and key resistance
*RES 1: 1.3200 High Mar 9
*PRICE: 1.3120 @ 16:38 GMT Mar 9
*SUP 1: 1.2947 Low Mar 6
*SUP 2: 1.2861 Low Mar 5
*SUP 3: 1.2726 Low Feb 28 and key support
*SUP 4: 1.2707 200-dma
GBPUSD's current recovery remains in place and last week's gains have changed
the S/T outlook. The breach of an important near-term resistance at 1.3018, the
Feb 25 high on Friday represents an important bullish break and clears the way
for a climb towards 1.3215, Feb 3 high now that 1.3070, Feb 13 high has been
breached too. Bears need a return below 1.2861, Mar 5 low to suggest the return
of a bearish threat.

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.