Free Trial

Rallies Lack Follow Through Tuesday.....>

CABLE TECHS
CABLE TECHS: Rallies Lack Follow Through
Tuesday lows remained untroubled for much of Wednesday morning, but markets
remain happy to sell rallies at this stage. Bears continue to focus on the
uptrend from the August lows as well as the Oct 30 low at 1.2709/96 before the
YTD lows at 1.2662 come into play. A break of these levels would see support
come in around the June 2017 lows at 1.2589. To return to a more bullish outlook
we need to see GBPUSD hold sustainably above 1.2911 (the 38.2% retracement from
1.2696-1.3258). Above here 1.2977 and the 100/50 dmas at 1.2985 come into play.

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.