Forex Analysis: GBP/USD Classic Technical Report 01.16.2013


Prices are testing below rising trend line support set from the June 1 bottom, with a confirmed break on a daily close basis targeting swing lows at 1.5913 and 1.5822. Near-term resistance is marked by a horizontal pivot level at 1.6177. A break above that targets the 1.63 figure.

View photo

Forex_Analysis_GBPUSD_Classic_Technical_Report_01.16.2013_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 01.16.2013

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)