Free Trial

Neckline Holds GBPUSD dipped back.......>

CABLE TECHS
CABLE TECHS: Neckline Holds
GBPUSD dipped back under 1.32 on Friday, breaking briefly below neckline support
but this level managed to hold on a closing basis allowing the bullish picture
to remain intact. The upside target is last week's high at 1.3350, above which
would open the 1.3363 level marking the July 9 2018 high. A break above here
opens the 38.2% retracement of the April-Jan decline at 1.3409 while the inverse
head and shoulders breakout target comes in around 1.40. Bears need to take out
Friday's low at 1.3172 to open the 50-wma which sits at 1.3156. 

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.