Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

Forex Analysis: GBP/USD Classic Technical Report 11.21.2012

By , Currency Strategist
21 November 2012 13:48 GMT

Prices are bouncing from support marked by the intersection of a rising trend line set from the June 1 low and a falling channel established from late September after completing a bullish Piercing Line candlestick pattern. Near-term term resistance lines up in the 1.5951-1.6003 area, with a break above that targeting the channel top at 1.6056.

Forex_Analysis_GBPUSD_Classic_Technical_Report_11.21.2012_body_Picture_5.png, Forex Analysis: GBP/USD Classic Technical Report 11.21.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

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

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

21 November 2012 13:48 GMT