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Needle Points North

CABLE TECHS
  • RES 4: 1.3130 High Mar 10
  • RES 3: 1.3020 0.764 proj of the Mar 20 - Apr 14 rally from May 18 low
  • RES 2: 1.2977 High Mar 11
  • RES 1: 1.2904 Intraday high
  • PRICE: 1.2876 @ 10:07 BST Jul 28
  • SUP 1: 1.2781 Low Jul 27
  • SUP 2: 1.2717 Low Jul 24
  • SUP 3: 1.2644 Low Jul 22
  • SUP 4: 1.2636 20-day EMA

GBPUSD traded higher yesterday and maintains a bullish tone. The pair
Monday cleared resistance at 1.2813 Jun 10 high, confirming a
resumption of the broader uptrend that has been in place since the
reversal on Mar 20. Attention turns to 1.2977, Mar 11 high and 1.3020, a
Fibonacci projection. On the downside, firm near-term support has been
defined at 1.2644, Jul 22 low. Initial firm support is seen at 1.2717.

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