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 Bear Bias Intact; Corrective Bounce Looks for Cap at 1.6040

Posted by on in FX Chart Updates
  • Font size: Larger Smaller
  • Hits: 1058
  • 0 Comments
  • Print
GBPUSD Bear Bias Intact; Corrective Bounce Looks for Cap at 1.6040

GBPUSD bear trend intact

·         A better rebound than expected Friday and this morning to ease immediate downside risks and aim higher Monday, towards 1.5970/75, but with a likely cap above at 1.6040.

·         However, the breakdown late last week to a new cycle low and through the 1.5854 weekly swing low from Q4 2013, leaves midweek/ mid-month risk lower

·         We see bear threat next for chart/ 61.8% retrace support 1.5750/20; overshoot risk through mid-month is to 1.5430; interim targets are at 1.5616 and 1.5503/00.

WHAT CHANGES THIS?

·         Above 1.6040 eases bear risks; through 1.6186 signals a neutral tone, only shifting positive above 1.6228.

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

4 Hour GBPUSD Chart

b2ap3_thumbnail_GBPUSD1_20141110-072319_1.png

Weekly GBPUSD Chart

 

b2ap3_thumbnail_GBPUSD2_20141110-072321_1.png 

 

 

 

Last modified on
Rate this blog entry:
0
Tagged in: Forex FX GBP 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.

Comments

Affiliates

  • affiliatelogos.png

    affiliatelogos.png

    http://www.marketchartist.com/images/ju_cached_images/affiliatelogos_0dd0698129febe7a7f50dd2279878ab6_90x50.resized.png

Clients

  • users1.png
    http://www.marketchartist.com/images/ju_cached_images/users1_00e523e7fd03fae1d0fb6c1d94bca6bd_90x50.resized.png
  • users2.png
    http://www.marketchartist.com/images/ju_cached_images/users2_e7bcf72e027318698507bc6d5c761f46_90x50.resized.png
  • users3.png
    http://www.marketchartist.com/images/ju_cached_images/users3_9afdb4dd4719675b88b5a560258e415d_90x50.resized.png
  • users4.png
    http://www.marketchartist.com/images/ju_cached_images/users4_979d06a8228e7e19e3d1617d94264ddb_90x50.resized.png

IMPORTANT NOTES

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