Forex: GBP/USD Technical Analysis – Bulls Aim to Expose 1.57


GBP/USD Technical AnalysisPrices broke resistance at a falling trend line set from mid-December, hinting a larger-scale upward reversal is in progress. Near-term resistance from here is at 1.5657, the 50% Fibonacci expansion, with a break above that eyeing the 61.8% mark at 1.5713. Near-term support is at 1.5602, the 38.2% Fib.

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

View photo

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Bulls Aim to Expose 1.57

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. 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)