GBP/USD Technical Analysis - Prices are testing support at 1.5670, the 138.2% Fibonacci expansion. A break below that targets the 150% level at 1.5612. Near-term resistance is at 1.5740, the 123.6% Fib, with a reversal back above this boundary eyeing the 1.5822-55 area (marked by the November 15 low and the 100% expansion).
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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