GBPUSD Classic Technical Report 08.08.2012
Prices continue to test resistance at 1.5638. Near-term support lines up at a rising trend line set from the June 1 high, now at 1.5511, a barrier reinforced by a horizontal boundary at 1.5484. A break below the latter level initially exposes 1.5392. Alternatively, a reversal through resistance aims to challenge 1.5769.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. 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 email@example.com