gbpusd continues retreat from 1 5500 resistance 2503752015
GBP/USD continued to retreat from the key 1.5500 resistance level on Thursday as sterling gave back all of its gains from earlier in the day and the dollar surged on some renewed speculation over a potential Fed rate hike before the end of the year.
Early on Thursday, GBP/USD spiked to a high of 1.5506 after better-than-expected retail sales data coming out of the UK pushed the currency pair up to that key resistance level. The gains were short-lived, however, as the dollar dominated against most other currencies after US unemployment claims for last week came out lower (better) than expected, while the euro plunged after ECB President Mario Draghi issued dovish comments at the ECB press conference. GBP/USD subsequently fell to hit a low of 1.5368, its lowest level within the past week.
During this past week, the currency pair repeatedly attempted to push above the 1.5500 resistance level, but was unable to sustain its rallies, and retreated on each day.
The rise to 1.5500 resistance began in early October, when GBP/USD bottomed out just above key support at 1.5100. In the process of the rise since then, the currency pair has broken out above a key downtrend resistance line extending back to August’s 1.5800-area highs, as well as both the 50-day and 200-day moving averages. These two moving averages have since converged to the downside, potentially forming a bearish cross (or “death cross”) signal.
In the event that 1.5500 resistance continues to hold, a further retreat should find immediate support around the 1.5350 level, around where the two noted moving averages have also converged. Any further downside move should target key support around 1.5100.
From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.
FOREX.com is a trading name of StoneX Financial Pty Ltd.
The material provided herein is general in nature and does not take into account your objectives, financial situation or needs.
While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments.
StoneX recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk, and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment and CFD investors do not own or have any rights to the underlying assets.
It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.forex.com/en-au/terms-and-policies/, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. Our Target Market Determination (TMD) is also available at www.forex.com/en-au/terms-and-policies/.
StoneX Financial Pty Ltd, Suite 42.01, 264 George Street, Sydney, NSW 2000 (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.
Delayed London Stock Exchange (LSE) Data
The London Stock Exchange (LSE) market data displayed or referenced on this website is provided on a delayed basis and is not in real time. The delay period may vary but is typically at least 15 minutes. This data is intended for information purposes only and should not be relied upon for trading, investment, or other financial decisions. We do not guarantee the completeness, reliability, or suitability of the data for any particular purpose. Users should consult real-time data sources and obtain professional advice before making any financial decisions.
© FOREX.COM 2026