GBP/USD Technical Analysis: Pound Breaks Past July Top
GBP/USD Technical Analysis – Prices are testing resistance at 1.5485, the 61.8% Fibonacci expansion, with a break above that targeting a falling trend line set from mid-December 2012 at 1.5556. This barrier is reinforced by the 76.4% level at 1.5576. A break above that eyes the 100% expansion at 1.5722. Near-term support is at 1.5412, the 50% Fib.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.