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
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