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

GBP/USD - Sliding To 6-Year Low

GBP/USD is weakening and is now trading below 1.4500. Hourly resistance is given at 1.5242 (13/12/2015 high). Stronger resistance can be found at 1.5336 (19/11/2015 high). Expected to show continued weakness.

The long-term technical pattern is negative and favours a further decline towards the key support at 1.4231 (20/05/2010 low), as long as prices remain below the resistance at 1.5340/64 (04/11/2015 low see also the 200 day moving average). However, the general oversold conditions and the recent pick-up in buying interest pave the way for a rebound.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment