MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - GBPUSD Reversal Extends

OUTLOOK
  • In FX, a bull theme in EURUSD has reversed lower from Thursday’s intraday high. The pair has breached minor support at 1.0835, the Mar 19 low. This reinstates a recent bearish threat and a continuation lower would signal scope for weakness towards 1.0796, the Feb 29 low. A break of this level would strengthen a bearish threat and open 1.0695, the Feb 14 low. On the upside, clearance of yesterday’s 1.0943 high is required to expose key resistance at 1.0981, the Mar 8 high.
  • A sharp sell-off in GBPUSD yesterday and today’s extension, has strengthened a S/T bearish threat. The pair has breached 1.2600, the Mar 1 low and this paves the way for a move towards 1.2536, the Feb 14 low and 1.2519, the Feb 5 low and a key support. Moving average studies continue to highlight an uptrend. A break of Thursday’s 1.2803 high is required to ease bearish pressure. First resistance is at 1.2724, the 20-day EMA.
  • USDJPY trend condition remains bullish and this week’s gains reinforce current conditions. Price has cleared key resistance at 150.89, the Feb 13 high, to confirm a resumption of the uptrend. Sights are on 151.91 and 151.95, the Nov 13 high and Oct 1 ‘22 highs respectively. A break of this resistance would confirm a resumption of the long-term uptrend and open 152.66, the 1.236 projection of the Feb 1 - 13 - Mar 8 price swing. Initial firm support is 149.50, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.