Forex: GBP/USD Technical Analysis – Testing Critical Former Highs

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Talking Points

  • Prices broke above resistance at 1.6259 (range top set from Oct 1 high)
  • Major resistance in the 1.6309-56 area (Sep’12 & Jan’13 tops, trend line) is now ahead
  • Breaking upward eyes 1.6406 (38.2% Fib); back below 1.6259 exposes 1.6131

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dailyclassics_gbp-usd_body_Picture_11.png, Forex: GBP/USD Technical Analysis – Testing Critical Former Highs

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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