• 140 days Could Crypto Overtake Traditional Investment?
  • 145 days Americans Still Quitting Jobs At Record Pace
  • 147 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 150 days Is The Dollar Too Strong?
  • 150 days Big Tech Disappoints Investors on Earnings Calls
  • 151 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 153 days China Is Quietly Trying To Distance Itself From Russia
  • 153 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 157 days Crypto Investors Won Big In 2021
  • 157 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 158 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 160 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 161 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 164 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 165 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 165 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 167 days Are NFTs About To Take Over Gaming?
  • 168 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 171 days What’s Causing Inflation In The United States?
  • 172 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

GBP/USD - Rouge Collapse

GBP/USD has collapsed in Asia trading, with reports of 1.14 lows but is now consolidating around the 1.2424 handle. Resistance is located at 1.2620 (declining trendline) then 1.2873 (03/10/2016). Support base is now building at 1.2354. Expected to show continued downside pressures.

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.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment