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 Poised for 15900 Test

GBPUSD Poised for 15900 Test

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Poised for 15900 Test

Prepared by Jamie Saettele, CMT

“The sharp GBPUSD drop could be the start of a move to 15900 (38.2% and former resistance) or lower. Bearish risk remains 16150 (from 16220 originally). The GBPUSD could also spend weeks trading between 16000 and 16250. Regardless, expect a response at 16000. Resistance is 16075/95.” The GBPUSD bounced from just below 16000 and failed shy of estimated resistance, at 16052 today. It’s unclear if the rally to 16052 completes a correction of the impulsive decline from 16178 but the top is in the vicinity of the former 4th wave (16032-16066) which is a common terminal point for corrections. Allowing for another run at 16066 (but not expecting it), risk remains to the downside.

LEVELS: 15845 15912 15975 16066 16106 16150

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