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: Treading Water Below 1.50

GBP/USD Technical Analysis: Treading Water Below 1.50

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

Talking Points:

  • GBP/USD Technical Strategy: Flat
  • Support: 1.4825, 1.4706, 1.4597
  • Resistance: 1.4984, 1.5093, 1.5201

The British Pound stalled after turning lower from range resistance below the 1.50 figure against the US Dollar. Near-term pivot support is at 1.4825, with a break below that on a daily closing basis exposing the 50% Fibonacci expansionat 1.4706. Alternatively, a turn above the 1.4950-84 area (January 23 low, 38.2% Fib retracement)opens the door for a challenge ofthe 50% level at 1.5093.

Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.

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.