• 386 days Could Crypto Overtake Traditional Investment?
  • 391 days Americans Still Quitting Jobs At Record Pace
  • 393 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 396 days Is The Dollar Too Strong?
  • 396 days Big Tech Disappoints Investors on Earnings Calls
  • 397 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 399 days China Is Quietly Trying To Distance Itself From Russia
  • 399 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 403 days Crypto Investors Won Big In 2021
  • 403 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 404 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 406 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 407 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 410 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 411 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 411 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 413 days Are NFTs About To Take Over Gaming?
  • 414 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 417 days What’s Causing Inflation In The United States?
  • 418 days Intel Joins Russian Exodus as Chip Shortage Digs In
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

GBP/USD - Bearish Momentum

GBP/USD keeps on pushing lower. Hourly support lies at 1.3842 (intraday low) and hourly resistance is given at 1.4043 (26/02/2016 high). The technical structure suggests further decline. The road is wide open to stronger support at 1.3657 (11/03/2009 low).

The long-term technical pattern is negative and favours a further decline towards the key support at 1.3503 (23/01/2009 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