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
More View more
GBPUSD 15900 Looks Like a Sticky Level

GBPUSD 15900 Looks Like a Sticky Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD 15900 Looks Like a Sticky Level

Prepared by Jamie Saettele, CMT

Previous comments were that “price is pressing against the channel but has yet to break higher. A more drawn out complex correction into the 100% extension of the 15267-15777 rally at 15900 is would come into focus on a move through 15720.” 15720 has given way thus focus shifts to the well-defined 15900 level. 15900 is the 100% extension of the rally from 15267 and 61.8% retracement of the decline from 16300. The level intersects with channel resistance during the last few days of July. 15675/95 is now support. Price should remain above 15635 on the way to 15900.

LEVELS: 15580 15635 15680 15777 15850 15900

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

DISCLOSURES