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Forex: GBP/USD Technical Analysis – Reversal in the Works?

Forex: GBP/USD Technical Analysis – Reversal in the Works?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Negative RSI divergence a turn lower may be ahead from resistance 1.6235 (38.2% Fib)
  • Breaking trend line support at 1.6129 initially exposes the 1.60 figure
  • A daily close above resistance initially exposes 1.6322 (50% Fib)

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

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Reversal 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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