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GBP/USD Technical Analysis 04.25.2013

GBP/USD Technical Analysis 04.25.2013

2013-04-25 10:29:00
Ilya Spivak, Head Strategist, APAC
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GBP/USD Technical AnalysisPrices are testing above resistance at 1.5408, the 38.2% Fibonacci retracement. A break above this barrier on a daily closing basis targets a rising channel top at 1.5515 and the 50% level at 1.5586. Support is in the 1.5187-1.5216 area, marked by channel bottom and the 23.6% retracement.

Forex_GBPUSD_Technical_Analysis_04.25.2013_body_Picture_5.png, GBP/USD Technical Analysis 04.25.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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