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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Forex Analysis: GBP/USD Mounts Rebound from 1.60

Forex Analysis: GBP/USD Mounts Rebound from 1.60

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

Prices are testing horizontal pivot resistance at 1.6177. A break above that aims for a channel top at 1.6226, followed by the 1.63 figure. Major support is at a trend line set from the June 1 bottom (now at 1.6004), with a drop below that targeting swing lows at 1.5913 and 1.5822. Positioning doesn’t offer an actionable trade setup at the moment and we will remain on the sidelines.

Forex_Analysis_GBPUSD_Mounts_Rebound_from_1.60_body_Picture_1.png, Forex Analysis: GBP/USD Mounts Rebound from 1.60

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. 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.

DISCLOSURES