Forex: GBP/USD Technical Analysis – Resistance Sub-1.60 in Sight
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- Prices are testing above resistance at 1.5878 (50% Fib) to take aim at 1.5985 (61.8% Fib)
- Near-term support is in the 1.5750-71 area (June 17 high, 38.2% Fib)
- A break below 1.5750 targets a rising channel bottom, now at 1.5646
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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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