• 9 hours Could This Be The Hottest Investment Sector For 2021?
  • 1 day Money-Laundering Binance Probe Report Adds To Bitcoin Woes
  • 1 day The Single Most Exciting Mental Health Breakthrough Of The Decade?
  • 3 days Pipeline Hackers Lose Access To Ransom Funds
  • 4 days Military Coups Are Big Business
  • 4 days Crypto Market Crashes As Tesla Turns Its Back On Bitcoin
  • 6 days Gold Bulls Are Facing An Uphill Battle
  • 7 days Has The Dogecoin Hype Fizzled?
  • 8 days America's Semiconductor Shortage Is Just Getting Started
  • 11 days The EU Begins Backtracking On China Trade
  • 12 days Americans Are Sick Of Unfair Taxation
  • 14 days No Jab, No Job: The New Hardline Policy of U.S. Employers
  • 17 days What’s Included In Biden’s $6 Trillion Economic Plan?
  • 17 days The “Great Car Comeback” Brightens Oil Demand Outlook
  • 18 days The 3 Most Profitable Covid-19 Vaccine Stocks
  • 20 days Beijing Launches Digital Currency To Break AliPay-WeChat Duopoly
  • 21 days The New Economic World Order After Covid-19
  • 25 days 3 Signals To Watch For A Stock Market Correction
  • 27 days Netflix Earnings Red Alert: Subscriptions Could Underwhelm
  • 29 days Elon Musk’s SpaceX Scores Big Win Over Jeff Bezos’ Blue Origin
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 - Targeting Hourly Support At 1.4300

GBP/USD weakens after the lost of two figures earlier last week. Hourly support is given at 1.4300 (21/04/2016 low). Hourly resistance is given at 1.4543 (06/05/2016 high). Stronger resistance is given at 1.4969 (27/12/2016 high). Expected to show further consolidation before entering into another upside move.

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