GBP/USD Technical Analysis 04.25.2013

Ilya Spivak
April 25, 2013

GBP/USD Technical AnalysisPrices are testing above resistance at 1.5408, the 38.2% Fibonacci retracement. A break above this barrier on a daily closing basis targets a rising channel top at 1.5515 and the 50% level at 1.5586. Support is in the 1.5187-1.5216 area, marked by channel bottom and the 23.6% retracement.

Forex_GBPUSD_Technical_Analysis_04.25.2013_body_Picture_5.png, GBP/USD Technical Analysis 04.25.2013
Forex_GBPUSD_Technical_Analysis_04.25.2013_body_Picture_5.png, GBP/USD Technical Analysis 04.25.2013

Daily Chart - Created Using FXCM Marketscope 2.0

Want to back-test your technical trading strategy? Download the historical data here.

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

To contact Ilya, e-mail ispivak@dailyfx.com. 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.