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: Support Below 1.55 Exposed

GBP/USD Technical Analysis: Support Below 1.55 Exposed

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

Talking Points:

  • GBP/USD Technical Strategy: Flat
  • Support: 1.5445, 1.5375, 1.5304
  • Resistance: 1.5533, 1.5675, 1.5791

The British Pound is aiming below the 1.55 figure against the US Dollar after seemingly resuming the down trend launched in mid-June. A daily close below the 38.2% Fibonacci expansionat 1.5445 exposes the 50% level at 1.5375. Alternatively, a move above the 23.6% Fib at 1.5533 clears the way for a test of the July 15 high at 1.5675.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

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.