Tuesday, October 20, 2015

GBP/USD remains supported around 1.5380 – BBH

FXStreet (Edinburgh) - The research team at BBH now expects pullbacks in the pair to remain contained in the area of 1.5380.

Key Quotes

Sterling reached a high near $1.5530 on Thursday before finishing the week near $1.5440”.

“It stalled near the downtrend line drawn from the August 25 high (~$1.5820), and the September 18 high (~$1.5660)”.

“It was marred last Thursday but closed well below it. Indeed, it closed on its session lows”.

“Old resistance near $1.5380 should now offer support, and may extend to $1.5350. A break of the $1.5280-$1.5300 area would confirm the third consecutive lower high since the year's high was recorded in June near $1.5900”.
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