GBPUSD Classic Technical Report 07.26.2012
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 support lines up at 1.5484, with a break below that exposing 1.5392 and 1.5270. 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
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