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 Negates Top; Sets Up Bull Break Through Key 1.70 for 1.7044

Posted by on in FX Chart Updates
  • Font size: Larger Smaller
  • Hits: 890
  • 0 Comments
  • Print
GBPUSD Negates Top; Sets Up Bull Break Through Key 1.70 for 1.7044

GBPUSD bull pressures re-energized

·         A very unexpected surging rally over the past 24 hours through firm barriers at 1.6880/85 and the 1.6923 level and 78.6% retrace of the sell off from the 1.6998 cycle peak has negated any bearish risks from the prior topping structure from May.

·         This shifts the very near term outlook to far more bullish and sees risk through the critical 1.6998/1.7000 area to challenge the multi-year high from 2009 at 1.7044.

·         Above here would then aim for Fibo extension level at 1.7175 and 1.7255 and a long term retrace, at 1.7335.

WHAT CHANGES THIS?

·         Below 1.6860 eases bull risks; through 1.6800 signals a neutral tone, only shifting negative below 1.6740.

Download our full report with latest screencast & levels here: http://members.marketchartist.com/Daily/GBPUSD.pdf

Daily GBPUSD Chart

b2ap3_thumbnail_GBPUSD1.png

 

Weekly GBPUSD Chart

b2ap3_thumbnail_GBPUSD2.png

Last modified on
Rate this blog entry:
0
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.

Comments

Affiliates

  • affiliatelogos.png

    affiliatelogos.png

    http://marketchartist.com/images/ju_cached_images/affiliatelogos_de12be95961a34964fbe2cc58e37df0c_90x50.resized.png

Clients

  • users1.png
    http://marketchartist.com/images/ju_cached_images/users1_0297181ced201bef1d0be0edad7d35b7_90x50.resized.png
  • users2.png
    http://marketchartist.com/images/ju_cached_images/users2_f6e801b34899027c934a180c85c5adb5_90x50.resized.png
  • users3.png
    http://marketchartist.com/images/ju_cached_images/users3_1c98bd664c7fb1fed159fa904ba68ddb_90x50.resized.png
  • users4.png
    http://marketchartist.com/images/ju_cached_images/users4_332a54b55287baf99179d26bb7979ae1_90x50.resized.png