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Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

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GBP/USD - The Short-Term Bounce is Fading

GBP/USD is losing its short-term bullish momentum. A break of the hourly support at 1.6186 (11/09/2014 low) would open the way for a test of the recent low at 1.6052. Hourly resistances can now be found at 1.6279 (15/09/2014 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.

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