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

Cable Bear Bias for Key 1.5000 and below

Posted by on in FX Chart Updates
  • Font size: Larger Smaller
  • Hits: 1205
  • Print
Cable Bear Bias for Key 1.5000 and below

Despite a push last week above resistance in the 1.5192/96 area, a stall back from 1.5276 leaves a negative bias early this week and risk of bear pressures resuming.

Short-term Outlook - Downside Risks:   

  • Below the 1.5035 cycle low from last week sees a modest weekly support target at 1.5024, just ahead of the psychological/ option target at 1.5000.
  • Overshoot threat for January is down to the 2013 cycle low at 1.4813.

What Changes This? Above 1.5320 eases bearish risks; through 1.5621 signals a base and range theme, only shifting positive above 1.5786.

For Today: 

  • A downside bias aims for the cycle low at 1.5035 and quickly to key targets 1.5024/00, maybe then 1.4935 
  • Above 1.5181 aims for 1.5236 and maybe targets 1.568/76, which we would look to try to cap.
Remember, for a FREE trial of all our FX and other reports sign up by clicking here
And to view this full GBPUSD report with screencasts, click here

Weekly GBPUSD Chart


4 Hour GBPUSD Chart


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

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


Holiday and cessation of service: 7th-23rd August 2017

Hi Market Chartist Users and Trialists, The Market Chartist reports will be paused for just over 2 weeks, whilst we take a vacation.

The last report will be on Friday 4th August, with service resuming on Thursday 24th August.We wish you successful trading in our absence