GBP/USD Technical Analysis – Prices are turning lower from resistance at 1.5260, marked by the March 25 high and a falling trend line cluster set from early January. Near-term support is at 1.5112, the 14.6% Fibonacci expansion, with a break below that targeting the 23.6% level at 1.5021. We continue to hold short for now.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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