Wednesday, November 11, 2026

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FxWirePro: GBP/USD faces strong resistance at 0.5382, good to sell rallies

Sterling climbed towards a recent two-week high against the struggling dollar on Monday, gaining from day's lows by 1.5307 The pair is currently trading at 1.5361, not far from a two-week high of 1.5382 struck on Friday,…

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

  • Sterling climbed towards a recent two-week high against the struggling dollar on Monday, gaining from day's lows by 1.5307

  • The pair is currently trading at 1.5361, not far from a two-week high of 1.5382 struck on Friday, where gains in the pair were capped

  • Major resistance is located at 1.5382 (Daily High Oct 9) and support on the downside is seen at 1.5315 (Session Low Oct 12)

  • UK inflation & earnings data this week will be in focus, CPI (due Tuesday 0830GMT) Zero f/c for Sept, ILO jobless rate f/c 5.5%, Claimant count f/c -2.1k

  • Breaks above 1.5390 could buoy bulls and momentum to carry on till 1.5448 levels (61.8% Fibo 1.5659-1.5107)

Recommendation: Good to sell rallies around 1.5370/75, SL: 1.5400, TP: 1.5315

Resistance Levels:

R1: 1.5382 (Daily High Oct 9)

R2: 1.5383 (Kijun-Sen)

R3: 1.5400 (Psychological Level)

Support Levels: 

S1: 1.5315 (Session Low Oct 12)

S2: 1.5301 (Daily Low Oct 9)

S3: 1.5261 (Daily Low Oct 8)

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By FxWirePro Team