• 815 days Will The ECB Continue To Hike Rates?
  • 816 days Forbes: Aramco Remains Largest Company In The Middle East
  • 817 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,217 days Could Crypto Overtake Traditional Investment?
  • 1,222 days Americans Still Quitting Jobs At Record Pace
  • 1,224 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,227 days Is The Dollar Too Strong?
  • 1,227 days Big Tech Disappoints Investors on Earnings Calls
  • 1,228 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,230 days China Is Quietly Trying To Distance Itself From Russia
  • 1,230 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,234 days Crypto Investors Won Big In 2021
  • 1,234 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,235 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,237 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,238 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,241 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,242 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,242 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,244 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

GBP/USD - The Resistance at 1.6162 Has Been Broken

GBP/USD has broken the resistance at 1.6176 (intraday high), which opens the way for a further short-term rise. Another resistance stands at 1.6287. An initial support lies at 1.6129 (07/10/2014 high), while an hourly support can be found at 1.6027 (07/10/2014 low).

In the longer term, the collapse in prices after having reached 4-year highs has created a strong resistance at 1.7192, which is unlikely to be broken in the coming months. Despite the recent short-term bearish momentum, we favour a temporary rebound near the support at 1.5855 (12/11/2013 low). A resistance lies at 1.6525.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment