Forex Analysis: GBP/USD Classic Technical Report 01.29.2013


Prices are pulling back from support at 1.5697, the 138.2% Fibonacci expansion. Near-term resistance is at 1.5747, the 123.6% Fib, with a break above that aiming for the 1.5822-29 area. Alternatively, a reversal through support aims for the 150% mark at 1.5654.

View photo

Forex_Analysis_GBPUSD_Classic_Technical_Report_01.29.2013_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 01.29.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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.

View Comments (0)