GBPUSD: Prices Challenge 1.60 Figure
GBPUSD is probing above resistance in the 1.5982-1.5991 area marked by the 50% Fibonacci expansion and the February 29 high, with a break above that exposing the 61.8% Fib level at 1.6071. Positioning does not offer an actionable entry opportunity until a clear breakout is confirmed and we will remain on the sidelines for now.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.