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Forex: GBP/USD Technical Analysis – Rally Capped Above 1.64

Forex: GBP/USD Technical Analysis – Rally Capped Above 1.64

2013-12-12 10:01:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices are testing resistance in the 1.6430-42 area (Dec 2 high, 23.6% Fib exp.)
  • A break higher on a daily closing basis initially exposes 1.6516 (38.2% Fib exp.)
  • Near-term supports are at 1.6291 (Dec 6 low), 1.6212 (falling channel top)

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

dailyclassics_gbp-usd_body_Picture_11.png, Forex: GBP/USD Technical Analysis – Rally Capped Above 1.64

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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