Forex: GBP/USD Technical Analysis – Buyers Eye October Top

DailyFX

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • Prices broke above falling trend line set from late October
  • Resistance is now at 1.6259 (October 1 high, trend line from early July)
  • Back below the trend line (1.6024) sees support at 1.5899 (23.6% Fib expansion)

Confirm your chart-based trade setups with the Technical Analyzer.

View photo

.
dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis – Buyers Eye October Top

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

New to FX? START HERE

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)