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WTI Crude •11 mins	56.61	-0.17	-0.30%
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Brent Crude • 11 mins	63.52	-0.14	-0.22%
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GBP/USD - Heading Towards 50% Fibonacci Retracement

By - Oct 28, 2015, 6:14 AM CDT

GBP/USD is declining. Support lies at the 50% Fibonacci retracement and stronger support can be found at 1.5202 (13/10/2015 low). Hourly resistance is given at 1.5529 (18/09/2015 high). A long as prices remain in the above range, there is no clear mid-term momentum.

In the longer term, the technical structure looks like a recovery as long as support given at 1.5089 stands. A full retracement of the 2013-2014 rise is expected.

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