GBP/USD, 23.6 fibo holding the Pound on the way up!
I wrote about this 23.6 fibo level in my GBP/USD analysis from April 17. This retracement level is from the July 2014./April 2015. fall and as you can see, it’s not easy to pass true. Last two weeks the Pound had a great gain, recovering from the low 1.4564 for days continuously. At the end of the last week the Pound bulls manage to reach this level, but the sellers are serious here and it’s question could the bulls brake this and when. On the way back, first support is placed at 1.5100/110, lower 1.5050/70 and 1.5000, on the way up 1.5170/200 is strong resistance for now.