Free Trial

Tug of War Continues The tug of war.....>

CABLE TECHS
CABLE TECHS: Tug of War Continues
The tug of war continues between the down trendline from the July 9 high and the
short-term up trend channel. Yesterday GBPUSD fell back to the 200-dma, just
above the trend channel support and although it is moving a little higher today,
the near-term outlook remains neutral. A close below here would shift the
outlook bearish and allow a challenge of the 1.1300 area which marks the Jan 17
high and up trendline support. Below here would shift the focus back to the 1.28
level. On the upside a break above the down trendline at 1.3183 comes ahead of
Friday's high at 1.3217 and a move through here opens the Sep 20 high at 1.3298.

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.