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Free AccessWatching The 1.2921 Resistance *RES.....>
CABLE TECHS: Watching The 1.2921 Resistance
*RES 4: 1.3048 High Oct 5
*RES 3: 1.3013 High Oct 21 and bull trigger
*RES 2: 1.2976 High Oct 31
*RES 1: 1.2921 Trendline resistance drawn off Oct 21 high
*PRICE: 1.2908 @ 17:50 GMT Nov 15
*SUP 1: 1.2769 Low Nov 8 and bear trigger
*SUP 2: 1.2703 200-day MA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2582 High Sep 20 and former breakout point
GBPUSD traded higher Friday. The focus recently has been on the potential
weakness. A move below 1.2789, Oct 24 low would allow the steep uptrend that
unfolded off the Oct 8 low to unwind before bullish activity resumes. This would
open 1.2703, the 200-DMA and 1.2603, Oct 15 low. Resistance is at 1.2921, a
trendline drawn off the Oct 21 high. A break of this level would highlight a
bull flag formation instead and signal a potential resumption of the uptrend.
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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.