Never Lose a Minute of Your Trading Time On Analysis Again

FXTechstrategy analysis will help you cut down your analysis time and spot profitable trade ideas...so you can improve your trading results

Monthly Technical Outlook: GBPUSD

GBPUSD: Bears Still Remain In Control.

GBPUSD: The pair remains biased to the downside medium term as it looks to weaken further. As long as it holds below its major resistance at the 1.6300 level, our bias remains lower. This leaves the risk of further weakness towards the 1.5266 level with a cut through here targeting the 1.5000 level. We expect this level to provide a strong support and turn the pair higher but if this fails, bear threats could target the 1.4800. Its monthly RSI is bearish and pointing lower supporting this view. On the upside, GBP will have to violate the 1.6300 level to convince the market of an end to its medium term weakness. This could push it further higher towards the 1.6614 level, its Aug 2011 high. Further out, resistance resides at the 1.6738 level. On the whole, GBP remains biased to the downside in the medium term

Trusted by 3,000+ Traders, FXTechstrategy Forex Research Helps You Make Better Trading Decisions Everyday Starts as low as $30/month.
Plans

   

Make better, profitable trades

Perfectly suitable for forex, commodity & futures traders

Your trading, made easier

R
20+ easy, actionable trade ideas with reliable daily analysis and easy-to-implement strategy eBook
R
Stay on top of every move, price action to help you make easier, faster, and more accurate trading decisions.
R
Whatever strategy you have – day trading, swing or position trading – FXTechstrategy analysis fits in seamlessly with no hassles.

See All Plans and Pricing