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  • 🇩🇪 Inflation Rate MoM Prel (JAN) Actual: 0.8% Expected: 0.4% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-01-28
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dE1MfFPnS8
Forex Analysis: GBP/USD Classic Technical Report 12.21.2012

Forex Analysis: GBP/USD Classic Technical Report 12.21.2012

Ilya Spivak, Head Strategist, APAC

Prices are pulling back from resistance at the 1.6300 figure after putting in a bearish Gravestone Doji candle. Initial support is at 1.6177, with a break below that exposing the 1.5951-1.60 area. Alternatively, a break above resistance exposes the 1.64 mark.

Forex_Analysis_GBPUSD_Classic_Technical_Report_12.21.2012_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 12.21.2012

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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GBP/USD
Bearish