Steve Miley is - The Market Chartist

Financial Market Technical Chart Blogs from Steve Miley - The Market Chartist

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

GBPUSD Bull Trend Intact, But Correction Risk

Posted by on in FX Chart Updates
  • Font size: Larger Smaller
  • Hits: 1039
  • Print
GBPUSD Bull Trend Intact, But Correction Risk

A dip lower this week through at 1.5805/00 and the June trend line favours a consolidation tone on Tuesday.

However, the push last week through a long term retrace barrier at 1.5879 after the recovery through the 1.5815 peak leaves a bullish recovery tone for late June.

For Today: We see a neutral tone between 1.5700 and 1.5844.

Break above 1.5844 aims for 1.5910 and 1.5930/45, which we would look to try to cap.

Break below 1.5750 aims for 1.5675, which we would look to try to hold.

Short/ Intermediate-term Outlook - Upside Risks:

We see the bullish threat to 1.6000.

Above here targets 1.6182/88 with overshoot threat closer to 1.6525.

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

Remember, for a FREE trial of our FX and all other reports, sign up by clicking here

2 Hour GBPUSD Chart 


Daily GBPUSD Chart


Last modified on
Rate this blog entry:
Tagged in: CABLE Forex FX GBP GBPUSD

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.



  • affiliatelogos.png



  • users1.png
  • users2.png
  • users3.png
  • users4.png