GBP/USD Technical Analysis: Sterling Erases May Selloff

| 7 juni, 2013 | 0 kommentarer

GBP/USD Technical Analysis – Prices advanced as expected after putting in a Bullish Engulfing candlestick pattern. A break above resistance at 1.5465, the 76.4% Fibonacci retracement, has exposed the May 1 high at 1.5606.This barrier is reinforced by the underside of a formerly broken rising channel. A push higher aims for the 123.6% Fib extension at 1.5747. The 1.5465 mark has been recast as near-term support, with a move beneath that eyeing the 61.8% retracement at 1.5377.

dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis: Sterling Erases May Selloff

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail [email protected]. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya’s e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *