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GBP/USD Technical Analysis 02.04.2013

GBP/USD Technical Analysis 02.04.2013

2013-02-04 08:59:00
Ilya Spivak, Head Strategist, APAC
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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).

Forex_GBPUSD_Technical_Analysis_02.04.2013_body_Picture_1.png, GBP/USD Technical Analysis 02.04.2013

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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