Thursday, October 15, 2026

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FxWirePro: GBP/USD faces strong support around 1.5300, good to buy at dips

GBP/USD has declined till 1.5301 after release of weaker than expected U.K GDP. UK 3Q15 GDP rose 0.5%QoQ compared to forecast of 0.6% which leaves the annual rate of growth at 2.3%YoY. Cable recovered after making a low …

By Lis Howell
1 min read
FxWirePro: GBP/USD faces strong support around 1.5300, good to buy at dips
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GBP/USD has declined till 1.5301 after release of weaker than expected U.K GDP.

  • UK 3Q15 GDP rose 0.5%QoQ compared to forecast of 0.6% which leaves the annual rate of growth at 2.3%YoY. 
     
  • Cable recovered after making a low of 1.53014 and it is currently trading at 1.53470. Overall trend is still bullish as long as support 1.5300 holds.
     
  • Any weakness can be seen only below 1.5300 level.
     
  • On the higher side major resistance is around 1.5380 and break above targets 1.5435/1.5450.

It is good to buy at dips around 1.5340-45 with SL around 1.5300 for the TP of 1.5400/1.5435

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By FxWirePro Team