• 363 days Will The ECB Continue To Hike Rates?
  • 364 days Forbes: Aramco Remains Largest Company In The Middle East
  • 365 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 765 days Could Crypto Overtake Traditional Investment?
  • 770 days Americans Still Quitting Jobs At Record Pace
  • 772 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 775 days Is The Dollar Too Strong?
  • 775 days Big Tech Disappoints Investors on Earnings Calls
  • 776 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 778 days China Is Quietly Trying To Distance Itself From Russia
  • 778 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 782 days Crypto Investors Won Big In 2021
  • 782 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 783 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 785 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 786 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 789 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 790 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 790 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 792 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

GBPUSD - New Highs are Bullish

GBP/USD surged to 1.4662, clearing solid supply regions. has broken the resistance at 1.4597 (07/06/2016 reaction high), confirming the underlying bullish trend. Resistance is given at 1.4735 (26/05/2016 high) and a stronger one is located at 1.4762 (03/05/2016 high). Hourly support can be located at 1.4430 (gap open high). Expected to confirm deeper selling pressures as gaps are closed.

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