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Free AccessProbing Supports: *RES 4: 1.2670 50%....>
CABLE TECHS: Probing Supports:
*RES 4: 1.2670 50% retracement of the Mar 13 - Sep 3 decline
*RES 3: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 2: 1.2503 High Sep 24
*RES 1: 1.2381 High Sep 26
*PRICE: 1.2282 @ 09:28 GMT Oct 1
*SUP 1: 1.2261 Intraday low
*SUP 2: 1.2262 50-dma
*SUP 3: 1.2234/10 Low Sep 9 and Sep 5
*SUP 4: 1.2197 61.8% Sep 3 - Sep 20 rise
GBPUSD edged lower earlier touching 1.2261. This has resulted in the pair
probing the 50% Fibonacci retracement of Sep 3 - Sep 20 rally at 1.2271 and the
the 50-dma at 1.2262. A clear break of this support area would open a deeper
correction towards 1.2197, the 61.8% retracement. If the current move lower is
still a correction, prices ideally should find support ahead of the 61.8%
retracement. A move above resistance at 1.2381 would be encouraging for bulls.
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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.