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GBPUSD Bull Theme Intact

Posted by on in FX Chart Updates
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GBPUSD Bull Theme Intact

A rejection for now of a shift to a broader range theme with the rebound from ahead of support at 1.5087.

This points to a more positive recovery tone for Wednesday and potentially on into early June.

For Today:

We see an upside bias for 1.5386; break here aims through 1.5416 for 1.5437.

But below 1.5309 opens risk down to 1.5276, maybe 1.5215.

Short/ Intermediate-term Outlook - Upside Risks:

Whilst above 1.5087, we see a positive tone with the bullish threat back to 1.5700 and through 1.5826.

Above here targets 1.5879, 1.6000 and 1.6182/88 into May.

What Changes This? Below 1.5087 signals a neutral tone, only shifting negative below 1.4854.


A taster of the report above. To view the full GBPUSD report with screencasts, levels and more, click here

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2 Hour GBPUSD Chart 


Daily GBPUSD Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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