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Free AccessUpper End of Range *RES 3: 1.2755.......>
CABLE TECHS: Upper End of Range
*RES 3: 1.2755 High Jun 11
*RES 2: 1.2704 200-dma
*RES 1: 1.2670/88 High Jul 9 / High Jun 16
*PRICE: 1.2617 @ 16:50 BST Jul 16
*SUP 1: 1.2485/80 50-day EMA / Low Jul 14
*SUP 2: 1.2438 Low Jul 3 and key near-term support
*SUP 3: 1.2360 Low Jul 1
GBPUSD bounced into the London close, although is yet to take out the Wednesday
high. This keeps the technical picture largely unchanged and attention is on
1.2670, Jul 9 peak. A break would confirm a resumption of the recovery that has
been in place since Jun 29 and pave the way for strength towards 1.2813, Jun 10
high. Moving average studies maintain a bullish position reinforcing the current
positive outlook. A move below 1.2480 though would threaten the current bullish
cycle.
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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.