Thursday, October 15, 2026

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FxWirePro: GBP/USD continues to head south, ignores oversold levels

GBP/USD continues to head south for the 7th day, making lower daily highs since the 1.5820 peak Traders largely ignoring oversold levels, Stochs point to further downside in the pair, with strong trendline support at 1.5…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • GBP/USD continues to head south for the 7th day, making lower daily highs since the 1.5820 peak

  • Traders largely ignoring oversold levels, Stochs point to further downside in the pair, with strong trendline support at 1.5240 

  • UK services PMI report due later in the day in focus, expectations to show the activity ticked up slightly to 57.6 in August from July's 57.4

  • GBP/USD is currently trading at 1.5277, down from day's highs at 1.5313 with immediate support seen at 1.5264 (Daily Low Aug 2)

  • On the other side, resistance is seen at 1.5313 (daily high) and then at 1.5333 (30 DMA Lower Bollinger)

Resistance Levels:

R1: 1.5313 (daily high) 

R2: 1.5333 (30 DMA Lower Bollinger)

R3: 1.5363 (200 DMA)

Support Levels:

S1: 1.5264 (Daily Low Aug 2)

S2: 1.5257 (Daily Low Jun 9)

S3: 1.5222 (Daily Low Jun 8)

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By FxWirePro Team