GBP/USD Technical Analysis: Range Top Continues to Hold

| 19 augusti, 2015 | 0 kommentarer

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Talking Points:

  • GBP/USD Technical Strategy: Flat
  • Support: 1.5574, 1.5486, 1.5387
  • Resistance: 1.5700, 1.5788, 1.5929

The British Pound tested above informed operation tip insurgency opposite a US Dollar though unsuccessful to secure a dermatitis nonetheless again. Near-term support is during 1.5574, a 23.6% Fibonacci expansion, with a mangle next that on a daily shutting basement exposing 1.5486 (trend line, 38.2% level). Alternatively, a push above a 1.5675-1.5700 area (July 15 high, 61.8% Fib retracement) opens a doorway for a plea of the 76.4% threshold during 1.5788.

Risk/reward considerations disagree opposite entering long with prices in tighten vicinity to resistance. On a other hand, a deficiency of a tangible bearish reversal vigilance suggests holding adult a short side is premature. We will sojourn prosaic for now, watchful for an actionable event to benefaction itself.

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GBP/USD Technical Analysis: Range Top Continues to Hold

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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Kategori: Analys från DailyFX

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