Forex Analysis: GBP/USD Classic Technical Report 01.23.2013

Prices are testing support at 1.5822, the November 15 low. A break downward targets resistance-turned-support at 1.5736. Near-term resistance is at the 1.60 figure, with a push above that aiming for the underside of a formerly broken rising trend line (now at 1.6044).

Daily Chart - Created Using FXCM Marketscope 2.0

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

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