GBP/USD Technical Analysis: Trend Line Marks Support

DailyFX

GBP/USD Technical Analysis – Prices found support at a rising trend line set from mid-March and moved to retest above the 76.4% Fibonacci retracement at 1.5183. A break back above this barrier on a daily closing basis initially exposes the 61.8% level at 1.5291. Trend line support is now at 1.5115.

View photo

.
dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis: Trend Line Marks Support

Daily Chart - Created Using FXCM Marketscope 2.0

--- 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.

Rates

View Comments (0)