GBPUSD Classic Technical Analysis Report 10.23.2012
Prices are testing support at the 1.60 figureonce again. The psychological barrier is reinforced by the 38.2% Fibonacci retracement at 1.5996, with a break below that targeting the 50% retracement at 1.5899. Initial falling trend line resistance is at 1.6160. A push above that broadly exposes the 1.63 figure.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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