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GBPUSD Classic Technical Report 08.09.2012

GBPUSD Classic Technical Report 08.09.2012

2012-08-09 06:27:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are testing resistance in the 1.5638-62 area marked by a former horizontal support and the 38.2% Fibonacci retracement. A break higher exposes the 1.5769-84 region. Near-term support is at a rising trend line set from the June 1 low, now at 1.5517, with a push below that initially exposing 1.5484.

GBPUSD_Classic_Technical_Report_08.09.2012_body_Picture_5.png, GBPUSD Classic Technical Report 08.09.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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