Forex: GBP/USD Technical Analysis – Signs of Topping Remain

Ilya Spivak
December 19, 2013

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Talking Points

  • Prices broke resistance at 1.6363 (23.6% Fib exp.), exposing 1.6452 (38.2% Fib exp.)
  • A bearish Evening Star pattern is valid absent a close above 1.6465 (Dec 10 high)
  • Back below 1.6363 eyes the 1.6206-31 area (Flag pattern top, 38.2% Fib retracement)

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

dailyclassics_gbp-usd_body_Picture_9.png, Forex: GBP/USD Technical Analysis – Signs of Topping Remain
dailyclassics_gbp-usd_body_Picture_9.png, Forex: GBP/USD Technical Analysis – Signs of Topping Remain

Daily Chart - Created Using FXCM Marketscope 2.0

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

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