Forex Analysis: GBP/USD Classic Technical Report 01.15.2013

Ilya Spivak

Prices pulled back from horizontal pivot resistance at 1.6177. Major support is at a trend line set from the June 1 bottom (now at 1.6015), with a drop below that targeting swing lows at 1.5913 and 1.5822.

Alternatively, a reversal above1.6177 aims for a channel top at 1.6215, followed by the 1.63 figure.


Forex_Analysis_GBPUSD_Classic_Technical_Report_01.15.2013_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 01.15.2013
Forex_Analysis_GBPUSD_Classic_Technical_Report_01.15.2013_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 01.15.2013

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



DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.