EMISSIONS: UK Residence-based GHG Emissions in 2024 Fall 0.5% Y/Y

• RES 4: 1.3893 1.236 proj of the Aug 1 - 14 - Sep 3 price swing     
• RES 3: 1.3789 High Jul 1 and key resistance
• RES 2: 1.3753 High Jul 2
• RES 1: 1.3661/3726 High Sep 18 / 17 
• PRICE: 1.3443 @ 14:08 BST Sep 24
• SUP 1: 1.3436 Intraday low 
• SUP 2: 1.3426 76.4% retracement of the Sep 3 - 17 bull leg  
• SUP 3: 1.3333 Low Sep 3 and a key support 
• SUP 4: 1.3282 Low Aug 6      

GBPUSD is trading lower today and this marks an extension of the corrective cycle that started Sep 17. The move down has resulted in a print below 1.3458, trendline support drawn from the Aug 1 low. A clear break of this line would strengthen a bearish theme and expose 1.3333, the Sep 3 low and a key support. Initial resistance to watch is 1.3537, the Sep 23 high. Clearance of this hurdle would signal a reversal.

FRBNY EFFR for prior session:

• Daily Effective Fed Funds Rate: 4.09% (+0.00), volume: $95B
• Daily Overnight Bank Funding Rate: 4.09% (+0.00), volume: $188B

• MNI: BELGIUM SEP BNB BUSINESS CONFIDENCE -7.9