GBPUSD Classic Technical Report 09.28.2012

Ilya Spivak

Prices continue to stall below resistance in the 1.6259-1.6300 area, marked by the late April swing top. Initial support stands at a falling trend line set from April 2011, now at 1.6120. A break below that exposes the 76.4% Fibonacci retracement at 1.6057. Alternatively, a push above resistance targets the 1.65 figure and the 123.6% extension at 1.6544.


GBPUSD_Classic_Technical_Report_09.28.2012_body_Picture_5.png, GBPUSD Classic Technical Report 09.28.2012
GBPUSD_Classic_Technical_Report_09.28.2012_body_Picture_5.png, GBPUSD Classic Technical Report 09.28.2012

Daily Chart - Created Using FXCM Marketscope 2.0




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


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