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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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Probes Resistance
- RES 4: 1.2772 High Apr 26
- RES 3: 1.2769 50-day EMA
- RES 2: 1.2638 High May 4 and a key resistance
- RES 1: 1.2525 High May 19
- PRICE: 1.2459 @ 06:18 BST May 20
- SUP 1: 1.2317/2156 Low May 17 / Low May 13 and the bear trigger
- SUP 2: 1.2081 76.4% retracement of the Mar ‘20 - Jun ‘21 uptrend
- SUP 3: 1.2000 psychological round number
- SUP 4: 1.1903 1.00 proj of the Apr 14 - 28 - May 4 price swing
GBPUSD traded higher Thursday and in turn reversed Wednesday’s bear leg. The pair has probed resistance at the 20-day EMA, at 1.2492. A clear break of this average would signal scope for a stronger short-term recovery and open 1.2638, the May 4 high and a key resistance. On the downside key support and the bear trigger is unchanged at 1.2156, the May 13 low. Initial support lies at 1.2317, the May 17 low.
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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.