GBPUSD downside bias strong after reaching 5-year low

April 14, 2015

GBPUSD fell to the lowest level since 2010 on Monday, touching 1.4564. The pair failed to break above resistance of 1.5008 and now the bias remains to the downside.

The bearish market structure is highlighted by the falling tenkan-sen and kijun-sen lines, as well as the market being below the Ichimoku cloud. Also the RSI is below 50 in bearish territory. The outlook will remain bearish unless there is a rebound back above 1.5551 (the high of February 26). Otherwise, there is scope to target 1.4228 (2010 low) and then 1.3503 (2009 low). GBPUSD has been making lower highs and lower lows since falling from the mid - 2014 peak of 1.7190.

Publication source
XM information  XM reviews

December 9, 2016
Gold is tired of moving in the range
On the daily chart of gold, the bears remain control over the market. As long as quotes are below $ 1,195, their positions are not under threat. The update of the December low can lead to the continuation of downward movement towards $1,116...
December 9, 2016
Oil prices ignored bigger-than expected drop
After an Asian consolidation oil prices moved higher on Thursday. The price slightly grew and reversed the minor part of its losses. The benchmark approached 53.50 post-Europe open. The price stayed below the 50 and 100 EMAs in the 1 hour chart...
December 9, 2016
EURUSD Trades Below Significant Resistance
The Italian referendum weighed on EUR/USD, fell to a year low of 1.0506 on 5th December. It was followed a quick recovery, as a result of the rebound of the Euro after testing the significant support level at 1.0500. Yet it retraced after testing the significant resistance level at 1.0800...

HotForex Rating
FOREX.com Rating
Trade360 Rating
Grand Capital Rating
EXNESS Rating
OctaFX Rating

Grand Option Rating
TropicalTrade Rating
IQ Option Rating
TopOption Rating
24option Rating
Banc De Binary Rating