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Forex: GBP/USD Technical Analysis – Prices Inch Toward 1.60

Forex: GBP/USD Technical Analysis – Prices Inch Toward 1.60

2013-09-17 12:43:00
Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices edged above resistance at 1.5878 (50% Fib), exposing 1.5985 (61.8% Fib)
  • A further push higher beyond that aims for a rising channel top now at 1.6061
  • Reversing back below 1.5878 aims for the 1.5750-71 area (June 17 high, 38.2% Fib)

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

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Prices Inch Toward 1.60

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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