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Forex: GBP/USD Technical Analysis – Sellers Flirt with 1.55 Mark

By , Currency Strategist
30 August 2013 09:31 GMT

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GBP/USD Technical Analysis

  • Prices are carving out a possible double top below 1.5720, the June swing top closing high
  • Near-term support is at 1.5503 (falling trend line resistance-turned-support, 23.6% Fib)
  • Break downward exposes the next downside hurdle at 1.5371 (38.2% Fib retracement)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Sellers Flirt with 1.55 Mark

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

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30 August 2013 09:31 GMT