GBP/USD Technical Analysis 04.03.2013

| 3 april, 2013 | 0 kommentarer

GBP/USD Technical AnalysisPrices recoiled from resistance at 1.5260, marked by the March 25 high and a falling trend line cluster set from early January, to take out the 14.6% Fibonacci expansion at 1.5112. Sellers now aim to challenge the 23.6% level at 1.5021, with a further break below aiming for the 38.2% Fib at 1.4873. The 1.5112 level has been recast as near-term resistance. We continue to hold short.

Forex_GBPUSD_Technical_Analysis_04.03.2013_body_Picture_5.png, GBP/USD Technical Analysis 04.03.2013

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Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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