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Forex: GBP/USD Technical Analysis – Topping Sub-1.58 Again?

Forex: GBP/USD Technical Analysis – Topping Sub-1.58 Again?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices testing Double Top resistance at 1.5720, bolstered by the 38.2% Fib exp. (1.5771)
  • A break upward initially exposes the 50% expansion at 1.5878
  • Negative RSI divergence warns of turn lower. Channel support (1.5580) break need to confirm

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

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Topping Sub-1.58 Again?

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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