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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.
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Free AccessMNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday
MNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
Outlook Remains Bearish
- RES 4: 1.3142 High Jul 14 and the bull trigger
- RES 3: 1.3045 High Jul 19
- RES 2: 1.2887/2996 High Jul 28 / 27 and a key resistance
- RES 1: 1.2820 20-day EMA
- PRICE: 1.2776 @ 15:51 BST Aug 07
- SUP 1: 1.2621 Low Aug 3
- SUP 2: 1.2591 Low Jun 29
- SUP 3: 1.2480 1.50 projection of the Jul 14 - 24 - 27 price swing
- SUP 4: 1.2439 1.618 projection of the Jul 14 - 24 - 27 price swing
The outlook in GBPUSD remains bearish and short-term gains are considered corrective. Last week’s price action reinforced a bearish theme. The pair has breached a key support highlighted by the 50-day EMA, at 1.2744, and 1.2765, the base of a bull channel drawn from the Mar 8 low. This strengthens the downtrend and signals scope for weakness towards 1.2591, the Jun 29 low. First resistance is at 1.2820, the 20-day EMA.
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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.