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9 Feb 2016
GBPUSD: Downtrend remains intact – Lloyds Bank
Research Team at Lloyds Bank, suggests that the GBPUSD trend from the 1.60 region remains intact after the rally from the 1.4080 lows set on the 21st Jan held key trend resistance in the 1.4650 region.
Key Quotes
“We have dropped back to around mid-range, after breaking support in the 1.4450/00 region. 1.4520/35 is intra-day resistance on rebounds, while under there and the key trend resistance highlighted above, the bias remains for a grind back towards the range lows. Interim supports lie at 1.4305 and 1.4200/1.4180 ahead of the major long-term support region between 1.40 and 1.35, the latter being the lows set back in 2009.”
Key Quotes
“We have dropped back to around mid-range, after breaking support in the 1.4450/00 region. 1.4520/35 is intra-day resistance on rebounds, while under there and the key trend resistance highlighted above, the bias remains for a grind back towards the range lows. Interim supports lie at 1.4305 and 1.4200/1.4180 ahead of the major long-term support region between 1.40 and 1.35, the latter being the lows set back in 2009.”