Forex: GBP/USD Technical Analysis – Pound Ready to Turn Lower?

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Talking Points

  • A bearish Evening Star candlestick pattern hints a move lower is ahead
  • Breaking support at 1.6321 (23.6% Fib ret.) exposes 1.6231 (38.2% Fib ret.)
  • Resistance is at 1.6465, the December 10 swing high

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dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis – Pound Ready to Turn Lower?

Daily Chart - Created Using FXCM Marketscope 2.0

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

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