Forex: GBP/USD Technical Analysis – Trend Line Contains Rebound
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- A bearish Dark Cloud Cover candle pattern marked a turn lower, as expected
- Breaking below 1.5899 (23.6% Fib exp.) eyes the 1.5675-1.5720 area (38.2% Fib, June top)
- Reversing above falling trend line resistance (1.6057) exposes 1.6235 (trend line from Jul’13)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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