GBP/USD Technical Analysis – Prices edged lower after putting in a bearish Dark Cloud Cover candlestick pattern below resistance at 1.5408, the 38.2% Fibonacci retracement, with sellers now testing support at the bottom of a Rising Wedge chart formation (1.5247). A break below that initially aims for the 23.6% Fib expansion at 1.5054.
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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