GBPUSD Classic Technical Report 07.25.2012
Prices put in a Bearish Engulfing candlestick pattern below resistance in the 1.5722-69 area and broke back into the middle of the familiar range carved out since early June. Initial rising trend line support lines up at 1.5484, with a break below that exposing 1.5392. Key resistance remains in the 1.5722-69 region.
Daily 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