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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
GBP/USD Technical Analysis: Support Below 1.55 Exposed

GBP/USD Technical Analysis: Support Below 1.55 Exposed

Ilya Spivak, Head Strategist, APAC

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.