GBPUSD consolidates, bearish bias remains

March 27, 2015

GBPUSD has paused its sharp decline from 1.5551 to 1.4634 and is consolidating between 1.4806 and 1.4993. The near term bias is neutral and this is indicated by the flattening out of the tenkan-sen and kijun-sen lines.

The overall outlook remains bearish as the market remains below the Ichimoku cloud. RSI is in bearish territory below 50. The pair has been making lower highs and lower lows since the July 2014 peak of 1.7190. An upside move would find resistance at 1.5551 and at 1.5605 – the 38.2% Fibonacci retracement level of the downleg from 1.7190 and 1.4634. A break below 1.4634 would open the path towards the 2009 low of 1.3503.

Publication source
XM information  XM reviews

February 24, 2017
Oil prices slightly grew
Brent oil prices extended their recovery in the Asian session on Thursday. Buyers led the price higher and broke 56.50 dollars per barrel in the early European morning...
February 24, 2017
Dollar drifts on Fed's lack of optimism
FOMC February meeting minutes released on Wednesday failed to provide support for the bulls to manage a sustainable breakout above 101.50...
February 24, 2017
Can gold continue post Fed rally?
Gold jumped to a 3 month high today, snapping a 3-day losing streak today after traders digested yesterday’s minutes meeting from the US Federal Reserve...

XM Rating
Grand Capital Rating
Fort Financial Services Rating
FxPro Rating
OctaFX Rating
Orbex Rating

GTOptions Rating
Porter Finance Rating
TopOption Rating
365BinaryOption Rating
EZTrader Rating
99Binary Rating