Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
GBP/USD Technical Analysis: Still Waiting for Direction Cues

GBP/USD Technical Analysis: Still Waiting for Direction Cues

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/USD Technical Strategy: Flat
  • Support: 1.5025, 1.4903, 1.4805
  • Resistance: 1.5100, 1.5165, 1.5269

The British Pound continues to wait for direction as prices languish in digestion mode below the 1.53 figure against the US Dollar. A daily close above the 14.6% Fibonacci expansion at 1.5100 exposes channel top resistance at 1.5165. Alternatively, a turn below the 23.6% level at 1.5025 opens the door for a challenge of 1.4903, the intersection of the 38.2% Fib and the channel floor.

An actionable trade setup is absent at this point, arguing against committing to a directional bias on long or short side. We will continue to stand aside for now, waiting for a clear-cut trading opportunity to present itself in the days ahead.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for

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