Forex: GBP/USD Technical Analysis – Bulls Aim Above 1.60

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Talking Points

  • Prices broke resistance at 1.5878 (50% Fib), exposing 1.5985 (61.8% Fib)
  • A further push higher beyond that aims for a rising channel top now at 1.6061
  • Reversing back below 1.5878 aims for the 1.5750-71 area (June 17 high, 38.2% Fib)

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dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Bulls Aim Above 1.60

Daily Chart - Created Using FXCM Marketscope 2.0

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

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