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  • The price of #gold may continue to exhibit a bullish behavior in June as the pullback from the yearly high ($1765) reverses ahead of the May low ($1670). Get your Gold market update from @DavidJSong here: https://t.co/OeaYtCpcIo https://t.co/UQVPIVCTCP
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  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
GBP/USD Technical Analysis 02.20.2013

GBP/USD Technical Analysis 02.20.2013

2013-02-20 14:19:00
Ilya Spivak, Head Strategist, APAC
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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.

Forex_GBPUSD_Technical_Analysis_02.20.2013_body_Picture_5.png, GBP/USD Technical Analysis 02.20.2013

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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