GBPUSD Classic Technical Report 07.12.2012
Prices are testing below falling trend line support to expose support in the 1.5477-84 area marked by the June 28 low and the 38.2% Fibonacci expansion. A break below this barrier exposes the 50% Fib at 1.5447. Near-term resistance lines up at 1.5516, the 23.6% expansion.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. 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 firstname.lastname@example.org