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

January 18, 2017
Trump kicks the Dollar down
Trump hinted in his interview to the Financial Times that the US Dollar went for a far too extensive rally and the enthusiasm surrounding the bulls needs to be cooled...
January 18, 2017
Fed speakers, BoC and UK employment
We are going to see some central bank action (Canada) and hear from some Fed members and the chairwoman today. Apart from that we will get more information on the UK labor market and a data package from the US, including CPI for December and industrial output...
January 18, 2017
Aussie dollar cracks major levels
The Australian dollar swung heavily today as US bulls finally looked to sell off in the wake of economic uncertainty around the United Kingdom...

Vantage FX Rating
XM Rating
Larson&Holz IT Ltd Rating
Orbex Rating
FBS Rating
HotForex Rating

24option Rating
IQ Option Rating
TopOption Rating
OptionRally Rating
OptionBit Rating
Porter Finance Rating