Forex Analysis: GBP/USD Classic Technical Report 12.17.2012

Prices are testing above range top resistance at 1.6177 to challenge rising channel resistance at 1.6243. A break above that targets the September 21 high at 1.6309. Near-term support is at 1.6109, the channel bottom. A push below that targets the 1.60 figure.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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