MNI JAPAN NOV TOKYO CORE CPI +2.2% Y/Y; OCT +1.8%

MNI: GERMANY NOVEMBER FLASH HICP -0.7% M/M (FCST: -0.5%)

MNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks

MNI BRIEF: China Sees Progress On EU EV Deal

MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1894 Thurs; -1.38% Y/Y

MNI: GERMANY NOV CPI +2.2% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: GERMANY NRW NOV CPI -0.3% M/M, +1.9% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

Shallow Bounce

GBPUSD TECHS
  • RES 4: 1.4133 High Jun 16
  • RES 3: 1.4088 76.4% retracement of the Jun 1 - Jul 20 sell-off
  • RES 2: 1.4001 High Jun 23
  • RES 1: 1.3990 61.8% retracement of the Jun 1 - Jul 20 sell-off
  • PRICE: 1.3866 @ 17:05 BST Aug 11
  • SUP 1: 1.3767 Low Jul 27
  • SUP 2: 1.3691 Low Jul 22
  • SUP 3: 1.3572 Low Jul 20 and the bear trigger
  • SUP 4: 1.3520/10 Low Jan 18 / 2.0%10-dma envelope

GBPUSD extended early downside in the first half of the session, with the pair printing down at 1.3803. Markets staged a small bounce into the close, but the recovery has been insufficient to alter the technical outlook. The pair remains below the 50-day EMA at 1.3886, the key upside level. A close back above here signals scope for gains towards 1.3990 next, a Fibonacci retracement. Support undercuts at the Jul 27 low of 1.3767. Should this give way, the outlook deteriorates, opening scope toward the bear trigger of 1.3572.

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.