• 685 days Will The ECB Continue To Hike Rates?
  • 685 days Forbes: Aramco Remains Largest Company In The Middle East
  • 687 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,087 days Could Crypto Overtake Traditional Investment?
  • 1,092 days Americans Still Quitting Jobs At Record Pace
  • 1,094 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,097 days Is The Dollar Too Strong?
  • 1,097 days Big Tech Disappoints Investors on Earnings Calls
  • 1,098 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,100 days China Is Quietly Trying To Distance Itself From Russia
  • 1,100 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,104 days Crypto Investors Won Big In 2021
  • 1,104 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,105 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,107 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,108 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,111 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,112 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,112 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,114 days Are NFTs About To Take Over Gaming?
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

GBP/USD - Bearish Breakout

GBP/USD is moving lower. The pair has broken support implied by the lower bound of the uptrend channel. Hourly resistance is given at 1.3445 (06/09/2016 high). Key resistance is given at 1.3534 (29/06/2016 high). Hourly support is given at 1.3236 (12/09/2016 low). Expected to further increase.

The long-term technical pattern is even more negative since the Brexit vote has paved the way for further decline. Long-term support given at 1.0520 (01/03/85) represents a decent target. Long-term resistance is given at 1.5018 (24/06/2015) and would indicate a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment