GBP/USD Technical Analysis – Prices found support at a rising trend line set from mid-March and moved to retest above the 76.4% Fibonacci retracement at 1.5183. A break back above this barrier on a daily closing basis initially exposes the 61.8% level at 1.5291. Trend line support is now at 1.5115.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. 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