U.S. Markets open in 5 hrs 26 mins

Forex Analysis: GBP/USD Classic Technical Report 12.11.2012

Ilya Spivak

Prices are retesting support-turned-resistance at a rising trend line set from the November 15 swing low (1.6095) having found support just above the 1.60 figure. A break above that initially exposes 1.6145. Alternatively, a reversal below 1.60 targets 1.5951, followed by a rising trend line set from early June (now at 1.5927).


Forex_Analysis_GBPUSD_Classic_Technical_Report_12.11.2012_body_Picture_1.png, Forex Analysis: GBP/USD Classic Technical Report 12.11.2012

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.