Free Trial

Off Recent Highs *RES 4: 1.2755 High....>

CABLE TECHS
CABLE TECHS: Off Recent Highs
*RES 4: 1.2755 High Jun 11
*RES 3: 1.2721 2.0% 10-dma envelope
*RES 2: 1.2698 200-dma
*RES 1: 1.2670/88 High Jul 9 / High Jun 16
*PRICE: 1.2595 @ 10:29 BST Jul 10
*SUP 1: 1.2509 Low Jul 8
*SUP 2: 1.2438 Low Jul 3 and key near-term support
*SUP 3: 1.2360 Low Jul 1
*SUP 4: 1.2252 Low Jun 29 and the bear trigger
GBPUSD traded higher yesterday although price stalled at the day high of 1.2670
and closed near session lows. The pair also traded lower during today's Asia
session. For now the move lower is considered a correction with the recent
bullish theme still intact. This follows the strong recovery off 1.2252, Jun 29
low and the recent breach of 1.2543, Jun 24 high. A resumption of strength would
open 1.2813, Jun 10 high. Initial support lies at 1.2509, Jul 8 low.

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.