GBPUSD bottoms at 57-month low, bearish bias remains

19 March, 2015

GBPUSD touched a 57-month low of 1.4634 on Wednesday but bounced on the same day to a high of 1.5163. For now there is short-term bottoming at 1.4634. The underlying trend is bearish so the recent rebound is seen as a correction. Upside is seen to be limited at 1.5551 – the February 26 high. Above this the 38.2% Fibonacci retracement of the downleg from 1.7190 to 1.4634 at 1.5610 is also a resistance level, while the Ichimoku cloud is also acting as a strong barrier that would bring down trend resumption.

A break below 1.4634 would open the path towards 1.3503 – the January 2009 low.

GBPUSD has been making lower highs and lower lows since the July 2014 peak of 1.7190.


Source link  
Euro eyes economic sentiment indicator

The European Commission will publish its economic sentiment indicator (ESI) on Thursday at 09:00 GMT, which comes hot on the heels of last week...

US capital goods orders to rise further

Data on durable goods orders will be watched out of the United States this week for an indication of business spending amid a worsening trade row between...

Dollar firm as rate hike imminent

The Fed last raised rates in March, taking the federal funds rate to a target range of 1.50-1.75%. At the time, the Fed maintained its projection of a total...


Dollar stabilizes after drop

The dollar stabilized today after sliding to a four-month low against the yen in reaction to news of the setback on healthcare reform...

Euro rallies after French debate

The dollar remained soft in Asian trading today as it came under pressure from falling US Treasury yields following not-so-hawkish speeches by Fed officials on Monday. Chicago Fed President Charles Evans quashed hopes for a faster pace of rate hikes...

Price approximately at 6-week high

EURUSD is currently up for the day and roughly at the level of the six-week high of 1.0782 recorded on Thursday. The RSI indicator is pointing to a bullish short-term bias as it is well above the 50 neutral level at 61...


Euro gets added boost

The euro was one of the top performing major currencies in the Asian session today after being lifted...

Antipodean currencies in the spotlight

The Asian session was an interesting one for both AUD and the NZD...

Dollar subdued ahead of Fed

The US dollar traded in a narrow rage against the yen as investors await the outcome of the Federal Reserve’s two-day policy meeting later today. It is widely expected that the FOMC will announce a rate hike...


In the past 24 hours Bitcoin has lost -1.89% and reached $7325.16. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.3727% and is now at $1.1646. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 5.17% and is now at $457.735. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM88%
3HYCMHYCM86%
4FIBO GroupFIBO Group79%
5FxProFxPro78%
6FXCMFXCM73%
7AvaTradeAvaTrade69%
8HotForexHotForex68%
9XMXM68%
10Alfa-ForexAlfa-Forex66%
  


Share: