MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Pulls Back From Last Week’s Highs

GBPUSD TECHS
  • RES 4: 1.2558 High Jun 9 2022
  • RES 3: 1.2524 2.0% 10-dma envelope
  • RES 2: 1.2448 High Jan 23 and a key medium-term resistance
  • RES 1: 1.2342/2423 Intraday high / High Mar 31
  • PRICE: 1.2280 @ 06:02 BST Apr 3
  • SUP 1: 1.2216 20-day EMA
  • SUP 2: 1.2191 Low Mar 24
  • SUP 3: 1.2147 50-day EMA
  • SUP 4: 1.2011 Low Mar 15

GBPUSD is trading lower today as the pair pulls back from last week’s highs. The move lower is considered corrective - for now - and support to watch lies at 1.2216, the 20-day EMA. A clear break of this average would signal scope for a deeper pullback. Recent gains have exposed resistance at 1.2448, the Jan 23 high and a key medium-term hurdle for bulls. A break would highlight a 3 months range breakout and strengthen bullish conditions.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign 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.