Friday, October 16, 2026

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GBP/USD close above fibo denoted further gains

Break and close of solid resistance for cable at 1.5481 Monday signals further gains 1.5481 = 23.6% retrace of the 1.7192 to 1.4952 July to January fall Positive potential seen to the next fibo of the same move at 1.5808…

By Meredith J C Warren
1 min read
GBP/USD close above fibo denoted further gains
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  • Break and close of solid resistance for cable at 1.5481 Monday signals further gains

  • 1.5481 = 23.6% retrace of the 1.7192 to 1.4952 July to January fall

  • Positive potential seen to the next fibo of the same move at 1.5808

  • Ahead the 2015 high from Jan 2 at 1.5588 is key. Could see corrections

  • Bid raised to 1.5500, by the hourly pivot point

 

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