Free Trial

Remains Vulnerable *RES 4: 1.3215.......>

CABLE TECHS
CABLE TECHS: Remains Vulnerable
*RES 4: 1.3215 High Feb 3
*RES 3: 1.3070 High Feb 13
*RES 2: 1.3018/23 High Feb 25 / 50-dma
*RES 1: 1.2946 High Feb 27
*PRICE: 1.2781 @ 05:43 GMT Mar 3
*SUP 1: 1.2726 Low Feb 28
*SUP 2: 1.2701 200-dma
*SUP 3: 1.2648 2.0% 10-dma envelope
*SUP 4: 1.2603 Low Oct 15
GBPUSD remains vulnerable. The pair failed last week to build on the recovery
off the Feb 20 low of 1.2849. The break of this support has instead reinstated a
bearish theme with Cable likely to edge lower near-term. Price tested the 1.2736
retracement Friday, 50.0% of the Sep - Dec rally. Potential is seen for a move
towards 1.2701, the 200 dma. If this is cleared, it would open 1.2603 and
1.2553. Key short-term resistance is seen at 1.3018, Feb 25 high.

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.