GBP/USD Technical Analysis 03.27.2013


GBP/USD Technical Analysis - Prices put in a bearish Dark Cloud Cover candlestick on a retest of resistance marked by a falling trend line set from the January 2 swing high and the recently broken multi-year range bottom at the 1.53 figure. Near-term support is at 1.5120, the 23.6% Fibonacci expansion, with a break below that targeting the 38.2% level at 1.4873. Trend line resistance is now at 1.5235. We have added to our short position.

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Forex_GBPUSD_Technical_Analysis_03.27.2013_body_Picture_5.png, GBP/USD Technical Analysis 03.27.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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