Forex: GBP/USD Technical Analysis – Resistance Above 1.61 Falls

Ilya Spivak

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Talking Points

  • Prices broke resistance at 1.6117 (76.4% Fib expansion)
  • Buyers now aim to challenge 1.6330 (100% Fib)
  • Near-term support is at the 1.60 figure, followed by 1.5985 (61.8% Fib)

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

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Resistance Above 1.61 Falls
dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Resistance Above 1.61 Falls

Daily Chart - Created Using FXCM Marketscope 2.0

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

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