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Why MNI
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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.
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Watching Resistance At The 50-Day EMA
- RES 4: 1.2803 High Mar 21
- RES 3: 1.2709 High Apr 09
- RES 2: 1.2574 50-day EMA values
- RES 1: 1.2570 High Apr 29
- PRICE: 1.2534 @ 06:44 BST May 2
- SUP 1: 1.2423/2300 Low Apr 24 / 22 and the bear trigger
- SUP 2: 1.2266 Low Nov 14 ‘23
- SUP 3: 1.2239 76.4% retracement of the Oct 4 - Mar 8 bull leg
- SUP 4: 1.2187 Low Nov 10
GBPUSD is trading closer to its recent highs. The trend condition is bearish and the latest recovery is considered corrective. Moving average studies remain in a bear-mode set-up and the recent break lower, maintains the downward price sequence of lower lows and lower highs. A resumption of the trend would open 1.2266, the Nov 14 2023 low. Resistance to watch is 1.2576, the 50-day EMA. A clear break of this average would be bullish.
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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.