• 555 days Will The ECB Continue To Hike Rates?
  • 555 days Forbes: Aramco Remains Largest Company In The Middle East
  • 557 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 957 days Could Crypto Overtake Traditional Investment?
  • 962 days Americans Still Quitting Jobs At Record Pace
  • 964 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 967 days Is The Dollar Too Strong?
  • 967 days Big Tech Disappoints Investors on Earnings Calls
  • 968 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 970 days China Is Quietly Trying To Distance Itself From Russia
  • 970 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 974 days Crypto Investors Won Big In 2021
  • 974 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 975 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 977 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 978 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 981 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 982 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 982 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 984 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

GBP/USD - Moving Below The Key Support at 1.6220

GBP/USD continues its relentless decline, as can be seen by the move below the key support at 1.6220. Another support stands at 1.6000 (psychological threshold and 50% retracement). Hourly resistances can now be found at 1.6233 (intraday high) and 1.6340 (05/09/2014 high).

In the longer term, prices have collapsed after having reached 4-year highs. The breach of the key support at 1.6220 confirms persistent selling pressures and opens the way for further decline towards the strong support at 1.5855 (12/11/2013 low). A key resistance now stands at 1.6644.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment