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Forex: GBP/USD Technical Analysis – October Swing Highs Eyed

Forex: GBP/USD Technical Analysis – October Swing Highs Eyed

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices broke above falling trend line set from late October
  • Resistance is now in the 1.6259-75 area (October 1 high, trend line from early July)
  • Below the Oct trend line (1.6015) sees support at 1.5899 (23.6% Fib expansion)

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

dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis – October Swing Highs Eyed

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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