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: Sellers Target 1.60 Figure Again

GBPUSD: Sellers Target 1.60 Figure Again

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

Prices pulled back from falling trend line resistance set from the September 14 high to challenge support at 1.5996, the 38.2% Fibonacci retracement. A break below that exposes the 50% retracement at 1.5899. Trend line resistance is at 1.6169, with a break above that broadly exposing the 1.63 figure. Risk/reward considerations argue against entering a trade at current levels and we will stand aside for now.

GBPUSD_Sellers_Target_1.60_Figure_Again_body_Picture_5.png, GBPUSD: Sellers Target 1.60 Figure Again

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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