GBP/USD Technical Analysis 05.02.2013


GBP/USD Technical AnalysisPrices are testing resistance at the top of a rising channel set from mid-March (1.5573), a barrier reinforced by the 50% Fibonacci retracement at 1.5586. A break above the latter level targets the 61.8% Fib at 1.5764.Initial support is at 1.5408, the 38.2% Fib, with a reversal below that targeting the channel bottom at 1.5275.

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Forex_GBPUSD_Technical_Analysis_05.02.2013_body_Picture_5.png, GBP/USD Technical Analysis 05.02.2013

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