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Forex: GBP/USD Technical Analysis – Sellers Probe Below 1.60

Forex: GBP/USD Technical Analysis – Sellers Probe Below 1.60

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices pulled back to test support at 1.5985 (61.8% Fib expansion)
  • A break lower initially exposes 1.5878 (50% Fib)
  • Near-term resistance is at 1.6162, the September 18 high

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

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Sellers Probe Below 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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