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Market News Topics
May 04, 2020 15:18 GMT
Pulls Away From Resistance *RES 4:......>
CABLE TECHS
CABLE TECHS: Pulls Away From Resistance
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2726 Low Feb 28
*RES 2: 1.2643/48 High Apr 13 /High Apr 14 and the bull trigger
*RES 1: 1.2516 Intraday high
*PRICE: 1.2418 @ 16:17 BST May 4
*SUP 1: 1.2406 Low May 04
*SUP 2: 1.2389 Low Apr 29 and key intraday support
*SUP 3: 1.2298 Low Apr 24
*SUP 4: 1.2248 Low Apr 21 and the bear trigger
The recent GBPUSD focus has been on key resistance at 1.2648, Apr 14 high. A
break of this level would confirm a resumption of the uptrend that has been in
place since Mar 20 and open 1.2726 initially, the Feb 28 low. However, the pair
has started the week on a soft note, pulling away from 1.2648. Further weakness
would expose key support at 1.2248, Apr 21 low. A breach if seen, would
highlight a reversal. Initial firm support is 1.2389.
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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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