James Stanley: GBPUSD support holds with cable reaching fresh highs by end of week

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11 hours ago

James Stanley: GBPUSD support holds with cable reaching fresh highs by end of week — GBPUSD holds support, reaches new highs

GBPUSD tested support levels this week, with a low at the bottom of the 1.3275 zone and a higher low at the top of the 1.3300 zone, followed by new highs by the end of the week.

James Stanley, senior strategist at DailyFX, described this as a clean technical setup and stated that GBPUSD remains his favored short USD setup.

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Stanley has also tracked key levels in the gold market. Earlier, he noted that gold consolidation showed sellers near $4200, with a break above $4235 seen as a potential trigger for further movement here. He previously pointed out that spot gold was approaching its longest stretch without a weekly close under $4,000 here.

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