Forex: GBP/USD Technical Analysis – Bulls Poised to Test 1.5878
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- Resistance in the 1.5750-71 area (June 17 high, 38.2% Fib expansion) broken
- Buyers now targeting 1.5878 (50% Fib), with a push higher eyeing 1.5985 (61.8% Fib)
- Reversal back below 1.5750 targets a rising channel bottom set now at 1.5617
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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