MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Trend Outlook Remains Bearish

GBPUSD TECHS
  • RES 4: 1.2506 High Sep 14
  • RES 3: 1.2444 200-dma
  • RES 2: 1.2357 50-day EMA
  • RES 1: 1.2337 High Oct 11 and the bull trigger
  • PRICE: 1.2265 @ 05:55 Oct 24
  • SUP 1: 1.2090 Low Oct 19
  • SUP 2: 1.2037/28 Low Oct 04 and bear trigger / Low Mar 16
  • SUP 3: 1.2011 Low Mar 15 and a key support
  • SUP 4: 1.1964 3.00 proj of the Jul 14 - 24 - 27 price swing

GBPUSD edged higher Monday. Gains are considered corrective and the trend remains bearish. The reversal from 1.2337, Oct 11 high, signals the end of a corrective phase between Oct 4 - 11. A resumption of weakness would open 1.2037, Oct 4 low. A break of this level would resume the downtrend that started in July and open 1.1964, a Fibonacci projection. For bulls, a break of 1.2337 would signal scope for a stronger corrective phase.

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