News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
GBPUSD: Another Test of 1.59 Figure Ahead

GBPUSD: Another Test of 1.59 Figure Ahead

Ilya Spivak, Head Strategist, APAC

Strategy: Pending Short

GBPUSD put in a bullish Piercing Line candlestick pattern above support at 1.5662, the 38.2% Fibonacci retracement level, hinting another upswing to challenge the recent range top at the 1.59 figure is ahead. As with the Euro, we maintain a broadly bearish bias but will remain on the sidelines for the time being absent an actionable short entry signal.

GBPUSD_Another_Test_of_1.59_Figure_Ahead_body_Picture_5.png, GBPUSD: Another Test of 1.59 Figure Ahead

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.