• 15 hours Apple Stocks Falls After Blowout Earnings Report
  • 16 hours The 5 Biggest IPO Disasters Of 2021
  • 2 days Crypto-Based ‘Shadow Financial Market’ Spooks Regulators
  • 5 days Ireland Balks At Biden’s Global Tax Plan
  • 8 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 11 days Facial Recognition Is Watching You
  • 13 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 13 days The Fed’s $3 Trillion Headache
  • 16 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 16 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 17 days Delta Variant Real Threat To Economic Recovery
  • 20 days JEDI Drama Continues With Microsoft Contract Cut
  • 22 days DiDi Shares Take a Beating From Chinese Regulators
  • 23 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 23 days Jobs Report Has Big Numbers, But Still Big Problems
  • 24 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 27 days Didi Just Went Public, And Uber Is Loving It
  • 28 days Islamic Finance On Track To Hit $3.7 Trillion
  • 29 days The Lumber Bubble Is Bursting
  • 33 days A New Entry In The Two Trillion Dollar Club
MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

Contact Author

  1. Home
  2. Markets
  3. Other

GBP/USD - Moving Up And Down

GBP/USD is still trading rangy despite the medium-term technical structure is clearly bearish. Hourly resistance is given at 1.4591 (05/02/2016 high) while hourly support can be found at 1.4033 (03/03/2016 low). A break of stronger resistance at 1.4668 (04/02/2016) is nonetheless needed to show a reverse in the medium-term momentum.

The long-term technical pattern is negative and favours a further decline towards 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