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Forex pairs in this Article » GBP/USD
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Talking Points

  • A bearish Dark Cloud Cover pattern hints 1.6235 (23.6% expansion) is a possible double top
  • Initial support is at 1.5918 (23.6% retracement); a break lower exposes 1.5707 (38.2% Fib)
  • A turn above 1.6235 targets 1.6446 (38.2% Fib expansion)
Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Topping Near 1.62 Mark?Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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