Skip to Content
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.

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: Support Above 1.53 in Focus

GBP/USD Technical Analysis: Support Above 1.53 in Focus

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

Talking Points:

  • GBP/USD Technical Strategy: Flat
  • Support: 1.5309, 1.4926, 1.4616
  • Resistance: 1.5545, 1.5656, 1.5756

The British Pound turned lower against the US Dollar as expected, dropping to the lowest level in a month. A daily close below the 23.6% Fibonacci expansionat 1.5309 exposes the 38.2% level at 1.4926. Alternatively, a rebound above the 14.6% Fib at 1.5545 clears the way for a test of a falling trend line at 1.5633.

Prices are too close to support to justify entering short from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests that taking up the long side is premature. With that in mind, we will remain flat for now.

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

--- Written by Ilya Spivak, Currency Strategist for

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