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GBP/USD Technical Analysis: Trend Line Marks Support

GBP/USD Technical Analysis: Trend Line Marks Support

Ilya Spivak, Head Strategist, APAC

GBP/USD Technical Analysis – Prices found support at a rising trend line set from mid-March and moved to retest above the 76.4% Fibonacci retracement at 1.5183. A break back above this barrier on a daily closing basis initially exposes the 61.8% level at 1.5291. Trend line support is now at 1.5115.

dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis: Trend Line Marks Support

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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