Free Trial

Retracing *RES 4: 1.2849 High Mar 12....>

CABLE TECHS
CABLE TECHS: Retracing
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2778 76.4% retracement of the Mar 9 - 20 sell-off
*RES 2: 1.2726 Low Feb 28
*RES 1: 1.2648 High Apr 14
*PRICE: 1.2520 @ 10:30 BST Apr 15
*SUP 1: 1.2442 Low Apr 13
*SUP 2: 1.2361 Low Apr 9
*SUP 3: 1.2288 Low Apr 8
*SUP 4: 1.2166 Low Apr 7 and key support
GBPUSD maintains a firmer tone despite this morning pullback. The pair recently
cleared the 1.2486 bull trigger, Mar 27 high to confirm a resumption of the
rally that began on Mar 20. Price has also traded through the 50-day EMA further
reinforcing a positive price structure. The focus is on gains above 1.2700 next
with attention on 1.2778, 76.4% retracement of the Mar 9 - 20 sell-off. Key
support has been defined at 1.2166, Apr 7 low. Initial support is at 1.2442.

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.