GBP/USD Technical Analysis – Prices are testing below support at the bottom of a rising channel (1.5202), with a break downward on a daily closing basis exposing the 23.6% Fibonacci expansion at 1.5054. Near-term resistance is at 1.5408, the 38.2% Fib retracement. A push above that targets 1.5586, the intersection of the channel top and the 50% retracement.
Daily Chart - Created Using FXCM Marketscope 2.0
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