GBP/USD Technical Analysis: Resistance Below 1.54 Holds Up

| 7 augusti, 2013 | 0 kommentarer

GBP/USD Technical AnalysisPrices are testing resistance at a falling trend line set from the June 17 swing high, with a break above that targeting swing tops at 1.5391 and 1.5433. Near-term support is in the 1.5287-1.5303 area, marked by the 23.6% Fibonacci expansion and the July 3 high. A push beneath that exposes the 38.2% level at 1.5196.

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dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis: Resistance Below 1.54 Holds Up

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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