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 Found Above 1.53

GBP/USD Technical Analysis: Support Found Above 1.53

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, 1.5614, 1.5756

The British Pound paused to consolidate losses after hitting a monthly following an expected turn lower against the US Dollar. Near-term support at 1.5309, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.4926. Alternatively, a turn above the 14.6% Fib at 1.5545 clears the way for a test of a falling trend line at 1.5614.

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!

--- Written by Ilya Spivak, Currency Strategist for

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