Fxwirepro: Gbp/usd Fails to Hold Above 1.5630 Handle

  • The sterling is one of the strongest currencies today as all other majors under pressure against the USD post FOMC
  • GBP/USD is currently trading at 1.5625, after brief attemps to trade above the 1.5630 handle failed
  • Immediate support is seen at 1.5588 (Daily Lows Jul 29/30), then at 1.5568 (38.2% of Jul 14-Apr 15 plunge), followed by 1.5560 (Kijun-Sen)
  • On the flipside, resistance is seen at 1.5639 (38.2% of June rally) ahead of 1.5691 (Daily High Jul 29) 
  • Further momentum in the pair could be influenced by U.S. preliminary Q2 GDP data and weekly jobless claims number due later in the day

Resistance Levels:R3: 1.5739 (Daily High Jul 1)R2: 1.5701 (61.8% Fibo 1.5930-1.5330)R1: 1.5691 (Daily High Jul 29)Support Levels:S1: 1.5588 (Daily Lows Jul 29/30)S2: 1.5560 (Kijun-Sen)S3: 1.5553 (21-Day MA)

The material has been provided by InstaForex Company – www.instaforex.com

Tags: