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Forex: GBP/USD Technical Analysis – 1.64 Holding as Resistance

Forex: GBP/USD Technical Analysis – 1.64 Holding as Resistance

2013-12-04 13:30:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are testing the 1.6406-23 area (trend line from Jul’13, 38.2% Fib exp.)
  • A break higher initially targets 1.6577 (50% Fib expansion)
  • Falling channel resistance-turned-support is at 1.6215

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

dailyclassics_gbp-usd_body_Picture_9.png, Forex: GBP/USD Technical Analysis – 1.64 Holding as Resistance

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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