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Forex Analysis: GBP/USD Classic Technical Report 12.28.2012

Forex Analysis: GBP/USD Classic Technical Report 12.28.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing support at 1.6099 after taking out resistance-turned-support at 1.6177 and the bottom of a rising channel set from the November 15 low. A break downward aims for the 1.5951-1.60 area. Alternatively, a break back above 1.6177 exposes the 1.63 figure.

Forex_Analysis_GBPUSD_Classic_Technical_Report_12.28.2012_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 12.28.2012

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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