Free Trial

Takes Out Key Support *RES 4: 1.2813....>

CABLE TECHS
CABLE TECHS: Takes Out Key Support
*RES 4: 1.2813 High Jun 10 and the key bull trigger
*RES 3: 1.2755 High Jun 11
*RES 2: 1.2688 High Jun 16
*RES 1: 1.2543 High Jun 24 and key near-term resistance
*PRICE: 1.2328 @ 16:41 BST Jun 26
*SUP 1: 1.2315 Low Jun 22 / 26 and key intraday support
*SUP 2: 1.2312 Lower 2.0% Bollinger Band
*SUP 3: 1.2256 2.0% 10-dma envelope
*SUP 4: 1.2250 76.4% retracement of the May 18 - Jun 10 rally
GBP selling pressed the pair through key support at 1.2336 Friday, triggering
further bearish signals for the pair. This opens 1.2250, a Fibonacci
retracement, as next support. For bulls to establish a firmer footing, markets
need to climb back above the 100-dma to challenge the next key near-term
resistance at 1.2688, Jun 16 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.