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

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…

  1. Home
  2. Markets
  3. Other

GBP/USD - Targeting Support At 1.2083

GBP/USD has reversed after false break out of recent bearish channel. Hourly support lies at 1.2083 (25/10/2016 low) while hourly resistance lies at 1.2268 (intraday high). The technical structure suggests further downside.

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