Trader, analyst and instructor with a 6-year experience

GBP/USD consolidates below $1.5600

GBP/USD is consolidating in the $1.5550/5600 area on Tuesday. Picture has improved since yesterday: cable managed to close the Monday’s bearish gap and recovered above the 200-day EMA. Downside is limited by the $1.5500 level (trend line support, recent lows).

The pair is well-supported, but cable needs a clear break above $1.5600/10 resistance in order to extend the upside. Next resistance is seen at $1.5685 (Friday’s peak). 

Chart. H4 GBP/USD

Scroll to top