Friday, October 16, 2026

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FxWirePro: GBP/USD consolidating around 1.4286, bias is bullish

The GBP/USD pair surged strongly on Monday as the world stocks market recovered and increased demand for European currencies supported British pound. The Pound advanced up to 1.4291 after US market opened, but after a sl…

By Keith Miller
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • The GBP/USD pair surged strongly on Monday as the world stocks market recovered and increased demand for European currencies supported British pound.
     
  • The Pound advanced up to 1.4291 after US market opened, but after a slight dip paused to trade around 1.4281 levels.
     
  • Currently the pair is trading around 1.4284 levels , it is set to advance further towards 1.4300 and later 1.4320 level in the short term.
     
  • To the upside, the strong resistance can be seen at 1.4290, a break above this level would expose the cable to next resistance level at 1.4348 levels.
     
  • To the downside strong support can be seen at 1.4250, a break below at this level will open the door towards next level at 1.4200.

    Resistance levels

    R1:  1.4290 (Daily high)  

    R2: 1.4348 (38.2 % Retracement level)   

    R3: 1.4426 (March 31st high)

    Support Levels

    S1: 1.4250 (50 % Retracement level)       

    S2: 1.4200 (Psychological levels)

    S3: 1.4150 (61.8% Retracement level)

 

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By FxWirePro Team