GBP/USD: Levels, Ranges, Targets

 

GBP/USD  still suffers from the 3000 pip Brexit drop yet GBP/USD retains its uniformity in all averages. From 1.2921 lows to average highs at 1.6412, mid point is located at 1.4665. From 1.2921 to the 5 year average at 1.4714, Mid point is located at 1.3817. The GBP/USD price is far to high from a short term trading perspective. Long term, GBP has potential to rise significantly. Rise significantly may require the BOE to raise Bank rate. But how high. As GBP remains low and at current levels, averages will drop significantly.

Lower for GBP/USD, must break 1.3710 while 1.4005 remains a crucial break. Above, 1.4597, 1.4714 and 1.4786 represent solid and tough levels to break.

80 day = 1.3549

Special Average = 1.3710

335 day = 1.2921

593 day = 1.3404

848 day = 1.4005

Close 1.4033

1103 day = 1.4597

1279 day = 5 Y = 1.4714

1357 day = 1.4786

1614 day = 1.4946

1873 day = 1.5097

2130 day = 1.5154

2385 day = 1.5185

2562 day = 10Y = 1.5462

2640 day = 1.5600

2894 day = 1.5970

3151 day = 1.6143

3410 day = 1.6319

3590 day = 14 Y = 1.6412

3667 day = 1.6438

3922 day = 1.6415

4175 day = 1.6316

4429 day = 1.6207

4687 day = 1.6165

 

 

Brian Twomey

 

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