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GBP/USD Technical Analysis – Support Sub-1.60 at Risk

GBP/USD Technical Analysis – Support Sub-1.60 at Risk

2013-10-09 12:39:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices are dipping below 1.60 to test support in the 1.5918-37 area (23.6% Fib, trend line)
  • Break lower exposes 1.5707-20 region (former double top, 38.2% Fib)
  • Near-term resistance is at 1.6259 (Oct 1 high); we are holding short

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

dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis – Support Sub-1.60 at Risk

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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