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GBP/USD Technical Analysis – A Top in the Works?

GBP/USD Technical Analysis – A Top in the Works?

2013-10-02 12:19:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • A bearish Gravestone Doji candle and negative RSI divergence warn of a turn lower
  • Breaking trend line support at 1.6129 initially exposes the 1.60 figure
  • A daily close above resistance at 1.6235 (38.2% Fib) exposes 1.6322 (50% Fib)

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

dailyclassics_gbp-usd_body_Picture_6.png, GBP/USD Technical Analysis – A Top in the Works?

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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