Thursday, October 15, 2026

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GBP/USD retreats half-cent+ from 1.5710, profit-taking on longs weighs

Cable retreats half-cent+ from 1.5710, deflated by profit-taking on GBP longs Support now lies at 1.5624 (200DMA). 1.5621 was Dec 31 high 1.5710 = London am high after UK data beat, 1.5558 = pre-data low 1.5393 = Monday …

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

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  • Cable retreats half-cent+ from 1.5710, deflated by profit-taking on GBP longs 

  • Support now lies at 1.5624 (200DMA). 1.5621 was Dec 31 high

  • 1.5710 = London am high after UK data beat, 1.5558 = pre-data low

  • 1.5393 = Monday low. 1.5165 = May 7 low, amid UK election uncertainty

  • UK election fog cleared on May 8 courtesy of unexpected Tory majority

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By FxWirePro Team