GBP/USD Classical Technical Report 01.06
GBP/USD:Rallies have been very well capped ahead of 1.5800 and it looks as though a lower top has now been carved out by 1.5780 ahead of the next major downside extension back towards the October lows at 1.5270. Key support comes in by 1.5360 and a daily close below this level will be required to confirm bias and accelerate declines. Ultimately, only back above 1.5780 would negate bearish outlook and give reason for pause.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email firstname.lastname@example.org. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email 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.