Forex: GBP/USD Technical Analysis – Signs of Topping Remain
To receive Ilya's analysis directly via email, please SIGN UP HERE
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.
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.
