Free Trial

Tests The 50-day EMA *RES 4: 1.2849.....>

CABLE TECHS
CABLE TECHS: Tests The 50-day EMA
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2813 High Jun 10 and the bull trigger
*RES 2: 1.2755 High Jun 11
*RES 1: 1.2654 High Jun 12
*PRICE: 1.2526 @ 10:35 BST Jun 15
*SUP 1: 1.2456/55 50-day EMA / Intraday low
*SUP 2: 1.2322 Low Jun 1
*SUP 3: 1.2250 76.4% retracement of the May 18 - Jun 10 rally
*SUP 4: 1.2162 Low May 22
GBPUSD traded below 1.2501, Jun 4 low on Friday to place on pause the recent
bullish outlook. Last week's move lower does highlight a near-term bearish risk
leaving support at 1.2456, 50-day EMA exposed. A break would open 1.2322, Jun 1
low. An ability this week to hold above the 50-day EMA though would be
encouraging for bulls. A recovery off the average would refocus attention on
last week's high and bull trigger at 1.2813.

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.