GBP/USD Technical Analysis - Prices are testing below support at 1.5403, the 61.8% Fibonacci expansion, to challenge the 1.5296-1.53 area marked by the 76.4% level and the major horizontal bottom dating back to September 2010. A break below that aims for the 100% Fib at 1.5131. We continue to hold short.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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