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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.
GBPUSD
- GBP/USD's corrective pullback persists, with the pair showing below the 200-dma today and extending the pullback following the dovish interpretation of the BoE decision - over 80bps of rate cuts are now priced for this calendar year, up from ~60bps at the beginning of the week.
- Outside of GBP, USD strength is notable - the USD Index today has cleared to weekly highs and is narrowing the gap with the mid-February highs. Notably, the USD Index is close to forming a 'golden cross' formation in the DMA space (50-dma rises above the 200-dma - see chart below) signalling positive S/T momentum. A golden cross was last formed in Sept last year, presaging a further 2% rally to cycle highs in October.
- Next support for GBP/USD undercuts at 1.2536, the Feb14 Low and the bear trigger at 1.2519.
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.
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