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GBP/USD Technical Analysis 03.06.2013

GBP/USD Technical Analysis 03.06.2013

2013-03-06 12:43:00
Ilya Spivak, Head Strategist, APAC
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GBP/USD Technical Analysis - Prices bounced from the 1.50 figure to test the 14.6% Fibonacci retracement at 1.5182. A break above that exposes the 1.5296-1.5305 area, marked by a recently broken multi-year range bottom and the 23.6% level. Near-term support is at 1.4984, the March 1 low. We continue to hold short.

Forex_GBPUSD_Technical_Analysis_03.06.2013_body_Picture_5.png, GBP/USD Technical Analysis 03.06.2013

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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