Great British Pound (GBP)

Morning Report

The long upper shadow of yesterday's candlestick has taken the pair towards the territory 200-Day SMA once again as seen on the provided daily chart. Meanwhile, Stochastic continued reflecting some kind of technical hesitation despite approaching overbought areas. We are definitely forced to stay aside again over intraday basis due to the sensitivity of current levels. A break below 1.5890 with a four-hour closing may activate a negative sign on momentum indicator. But, clearing the psychological level of 1.6000 will confirm a breakout above SMA 200.

The trading range for today is among key support at 1.5730 and key resistance at 1.6165.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.

Previous Report

Weekly Report 

• Gold Pressured By Bearish Outside Markets   (2016-11-01 03:50:56)
• Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate   (2016-07-12 17:27:51)
• Direction: neutral   (2016-07-01 16:54:07)
• Direction: neutral   (2016-06-30 15:17:32)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-30 05:32:18)
• Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-28 05:40:46)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00   (2016-06-24 20:25:31)
• Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00   (2016-06-23 19:20:37)
• Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00   (2016-06-22 14:56:10)
• Direction: neutral   (2016-06-20 20:28:46)