Forex: GBP/USD Technical Analysis – Minor Support Broken
GBP/USD Technical Analysis – Prices broke below support at a rising trend line set from the August 2 low to challenge support at 1.5585, the 14.6% Fibonacci retracement. A break below that targets the 23.6% level at 1.5503. Near-term resistance is at 1.5717, the August 21 swing high.
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 email@example.com. 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.