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Forex Analysis: GBP/USD Classic Technical Report 01.16.2013

By , Currency Strategist
16 January 2013 16:29 GMT

Prices are testing below rising trend line support set from the June 1 bottom, with a confirmed break on a daily close basis targeting swing lows at 1.5913 and 1.5822. Near-term resistance is marked by a horizontal pivot level at 1.6177. A break above that targets the 1.63 figure.

Forex_Analysis_GBPUSD_Classic_Technical_Report_01.16.2013_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 01.16.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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16 January 2013 16:29 GMT