• 786 days Will The ECB Continue To Hike Rates?
  • 786 days Forbes: Aramco Remains Largest Company In The Middle East
  • 788 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,188 days Could Crypto Overtake Traditional Investment?
  • 1,192 days Americans Still Quitting Jobs At Record Pace
  • 1,194 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,197 days Is The Dollar Too Strong?
  • 1,198 days Big Tech Disappoints Investors on Earnings Calls
  • 1,199 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,200 days China Is Quietly Trying To Distance Itself From Russia
  • 1,201 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,205 days Crypto Investors Won Big In 2021
  • 1,205 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,206 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,208 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,208 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,212 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,212 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,212 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,215 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

GBP/USD: Short-Term Consolidation is Underway

GBP/USD is weakening after its surge higher near the support at 1.4832. A resistance lies at 1.5222 (11/07/2013 high), while a key resistance is at 1.5305. Hourly support can be found at 1.5062 (intraday low, see also the 38.2% retracement of the current bounce) and 1.4981 (previous resistance).

In the longer-term, the break of the horizontal range defined by the strong support at 1.5235 (13/01/2012 low) and the strong resistance at 1.6302 (30/04/2012 high) calls for a further medium-term decline. The recent sharp bounce does not change this scenario. A key resistance is at 1.5305.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment