{"id":17237,"date":"2010-12-23T07:03:33","date_gmt":"2010-12-23T12:03:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17237"},"modified":"2010-12-23T07:03:33","modified_gmt":"2010-12-23T12:03:33","slug":"gbpusd-trend-turns-bearish","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/23\/gbpusd-trend-turns-bearish\/","title":{"rendered":"GBP\/USD Trend Turns Bearish"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>Yesterday\u2019s drop in the value of the Cable sent the pair below its long term trend line indicating a possible <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/13\/gbpusd-%e2%80%93-negative-divergence-shows-weakening-trend\/\">shift in the trend <\/a>to the downside.<\/p>\n<p>At the end of yesterday\u2019s trading, the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gbp-usd\">GBP\/USD <\/a>finished at 1.5419, a price that coincides with the all-important <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/12\/22\/eurusd-testing-200-day-moving-average\/\">200-day moving average<\/a>.  Yesterday\u2019s closing price is decisively below the trend line on the  daily chart that extends from the May and June lows of this year.<\/p>\n<p>This indicates a potential shift to the downside for the intermediate  trend. The long term charts also show falling trend lines. A close  below the rising trend line on the weekly chart will reinforce the shift  in the trend. Looking to the monthly chart, falling stochastic indicate  further bearishness may be in store for the pair.<\/p>\n<p>A short term falling trend line has been established at the high in November with a reaction point in mid-December.<\/p>\n<p>Price levels that should serve as supports are yesterday\u2019s low at  1.5355, followed by the 50% Fib retracement of the May to November move  at 1.5260, as well as 61.8% Fib at 1.5020.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/GBPUSD.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/GBPUSD.JPG\" alt=\"\" width=\"535\" height=\"571\" \/><\/a><\/p>\n<p><span style=\"text-decoration: underline;\"><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><\/span><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                                                                                                                          may           not          be                                 suitable                 for               all                                                       investors.                             There                     is       a                                                                                           possibility                                   that                                             you                             could                                        sustain  a                  loss                         of          all                    of                        your                                                                                   investment           and                                                                     therefore         you                                                        should               not                                         invest                                       money                 that                     you                                                     cannot                                     afford     to                                               lose.            You                                                  should                    be                           aware                 of                                   all                       the                      risks                                                                     associated                          with                                  Foreign                                              Exchange                                                       trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the end of yesterday\u2019s trading, the GBP\/USD finished at 1.5419, a price that coincides with the all-important 200-day moving average. Yesterday\u2019s closing price is decisively below the trend line on the daily chart that extends from the May and June lows of this year.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-17237","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=17237"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17237\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}