• 725 days Will The ECB Continue To Hike Rates?
  • 726 days Forbes: Aramco Remains Largest Company In The Middle East
  • 727 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,127 days Could Crypto Overtake Traditional Investment?
  • 1,132 days Americans Still Quitting Jobs At Record Pace
  • 1,134 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,137 days Is The Dollar Too Strong?
  • 1,137 days Big Tech Disappoints Investors on Earnings Calls
  • 1,138 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,140 days China Is Quietly Trying To Distance Itself From Russia
  • 1,140 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,144 days Crypto Investors Won Big In 2021
  • 1,144 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,145 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,147 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,148 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,151 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,152 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,152 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,154 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

GBP/USD: The Declining Channel is Under Pressure

GBP/USD bounced yesterday. Prices are challenging once again the resistance implied by the declining channel (around 1.6817). Other hourly resistances stand at 1.6845 and 1.6882. An hourly support now lies at 1.6738. Another support can be found at 1.6693.

In the longer term, despite the break of the long-term rising channel, the lack of significant bearish reversal pattern suggests a limited downside risk. As a result, a medium-term bullish bias remains favoured as long as the support at 1.6661 (15/04/2014 low) holds. A major resistance stands at 1.7043 (05/08/2009 high).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment