• 1 hour Big Banks Could Win Big On Fed Small Business Bailout
  • 2 hours Trump Increases Pressure On Venezuela
  • 6 hours Researchers Create Organic Battery
  • 22 hours Gold Is Still A Safe Haven, But Not Very Alluring
  • 1 day China Is Buying Up Billions Of Barrels Of Cheap Crude Oil
  • 2 days Are Gold Stocks Going To Bounce Back?
  • 2 days The Politics Of A Pandemic
  • 3 days What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 4 days COVID Report Cards Will Brand Businesses Forever
  • 4 days Trump Tweet Sends Oil Soaring 25%
  • 5 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 5 days Is A Global Currency Necessary?
  • 6 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 6 days Trump Wants Another $2 Trillion Economic Intervention
  • 7 days The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 7 days Priceless Van Gogh "Spring Garden" Painting Stolen
  • 7 days Oil Falls To $20 For First Time In Nearly Two Decades
  • 7 days COVID-19 Could Be The End Of U.S. Coal
  • 8 days How Much Does Your Social Security Number Cost? $4 On The Dark Web
  • 9 days Silver Stocks Have Been Decimated In The Coronavirus Sell-Off
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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

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