Free Trial

Touches 11 month lows GBPUSD pushed.....>

CABLE TECHS
CABLE TECHS: Touches 11 month lows
GBPUSD pushed lower again at the NY crossover, touching 11-month lows of 1.2920.
Focus remains on the lower boundary of the two month descending channel, where
the trendline support intervenes at 1.2910. Bears will look for a break below
here to challenge downtrend support off the May 29 low at 1.2860. Daily momentum
indicators are giving a clean sweep of bearish signals. Failure to regain the
1.3064 level leaves the bearish picture in place.

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.