Free Trial

Lows extend to $1.2119, with recovery.........>

MNI (London)
CABLE: Lows extend to $1.2119, with recovery efforts fading at $1.2135 before
turning lower again. Rate currently trades around $1.2125. Technical support
seen at $1.2110(Mar14-2017 low, Descending trend Aug15 2018) with expected
stronger support into the next big figure of $1.2100. Break here to expose
$1.2071(Bear channel base drawn off the high of May 6). Resistance now seen at
$1.2200 ahead of $1.2230. The move lower in Asia seen in thin conditions, though
Europe so far not showing any interest so far in picking up sterling in the
current dips. Another light UK data day with main focus remaining on Brexit
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

To read the full story



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.