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

December 5, 2016
November services data will headline a thin economic slate
The ECB is the focus this week. The Bank not only has to deal with the immediate fallout from the Italian referendum, but most importantly, it will be deciding on the future of the QE program, which currently runs out in March...
December 5, 2016
EUR fell on a negative referendum outcome
Italians voted NO to constitutional changes proposed by Italian Prime Minister Matteo Renzi. After negative outcome of the referendum, Renzi decided to quit in the early hours of Monday...
December 5, 2016
Italy continues to dominate headlines as Euro hits 20-month low
Political risk is showing no signs of escaping the headlines after the European Union was plagued into fresh political turmoil overnight following confirmation that Italian Prime Minister Matteo Renzi suffered a humiliating defeat in the referendum over constitutional reforms...

FOREX.com Rating
Trade360 Rating
OANDA Rating
FIBO Group Rating
 FXTM Rating
Fort Financial Services Rating

Anyoption Rating
Banc De Binary Rating
TropicalTrade Rating
365BinaryOption Rating
OptionsXO Rating
24option Rating