Free Trial

Underlying Bearish Trend GBPUSD.........>

CABLE TECHS
CABLE TECHS: Underlying Bearish Trend
GBPUSD slipped to fresh 20-month lows of 1.2478 after it was announced there
would be a vote of no confidence in the Conservative party. The underlying trend
remains bearish with focus turning to the Apr 11 2017 low at 1.2404 as the next
layer of support, a break opens a deeper correction toward the April 10 2017 low
at 1.2351. Bulls need to recover the 21-dma at 1.2757 to change the short-term
outlook, targeting a break back above 1.28 and the Dec highs at 1.2840.

To read the full story

Why Subscribe to

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.