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Forex: GBP/USD Technical Analysis – Bulls Edge Past Resistance

Forex: GBP/USD Technical Analysis – Bulls Edge Past Resistance

Ilya Spivak, Head Strategist, APAC

GBP/USD Technical AnalysisPrices narrowly edged above resistance at 1.5657, the 50% Fibonacci expansion, exposing the 61.8% level at 1.5713. A further push above that targets the 76.4% Fib at 1.5782. The 1.5657 mark has been recast as near-term support, with a move back beneath that eyeing the 38.2% expansion at 1.5602.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Bulls Edge Past Resistance

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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