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USDJPY TECHS

Trend Signals Still Point North

US EURODLR FUTURES

BLOCK, Red Pack

PIPELINE

Corporate Debt Recap, World Bank Exp Wednesday

EURGBP TECHS

Resumes Its Downtrend

GBPUSD TECHS

Corrections Remain Shallow

Monitoring A Bearish Threat

CABLE TECHS
  • RES 4: 1.3604 1.236 proj of Mar 20 - Apr 14 rally from May 18 low
  • RES 3: 1.3514 High Dec 13, 2019 and a key resistance
  • RES 2: 1.3482 High Sep 1
  • RES 1: 1.3403 High Sep 2
  • PRICE: 1.3294 @ 10:38 BST Sep 4
  • SUP 1: 1.3243 Low Sep 3
  • SUP 2: 1.3182 20-day EMA
  • SUP 3: 1.3117 Low Aug 26
  • SUP 4: 1.3054 Low Aug 24 and the bear trigger

The GBPUSD bull trend remains intact however a correction has unfolded this week. Last week's break of 1.3267, Aug 19 high, confirmed a resumption of the uptrend that has been in place since March, and has opened major resistance at 1.3514, Dec 13, 2019 high. A concern for bulls is Tuesday's weak close and a bearish candle pattern, a "shooting star". A sharper sell-off would signal the start of a deeper correction and expose 1.3054, Aug 24 low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com