GBP/USD Technical Analysis – Prices turned lower as expected after putting in a bearish Evening Star candlestick pattern. Sellers are now testing below support at 1.5212, the 23.6% Fibonacci expansion, with a break below that exposing the 38.2% level at 1.5075. Near-term resistance is at 1.5303, the July 3 high, followed by the July 25 top at 1.5433.
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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