Forex Analysis: GBP/USD Classic Technical Report 01.15.2013

DailyFX

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.

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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

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