Filed Under:
Forex pairs in this Article » GBP/USD
To receive Ilya's analysis directly via email, please SIGN UP HERE

GBP/USD Technical AnalysisPrices broke below support at a rising trend line set from the August 2 low to retest a downward-sloping barrier set from mid-December 2012 formerly acting as resistance and recently recast as support (1.5524). This is reinforced by the 23.6% Fibonacci retracement at 1.5503, with a break below the latter level targeting the 38.2% mark at 1.5371. Near-term resistance is at 1.5720.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Pound Probes Below 1.55Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

original source
comments powered by Disqus
Trading Center