U.S. Markets close in 11 mins.

Forex: GBP/USD Technical Analysis – Support Below 1.65 in Focus

Ilya Spivak


To receive Ilya's analysis directly via email, please SIGN UP HERE


Talking Points


  • A Bearish Engulfing candlestick pattern hints a move lower is ahead
  • Breaking below 1.6426 (23.6% Fib ret., trend line) exposes 1.6316 (38.2% Fib ret.)
  • Near-term resistance is at 1.6603 (January 2 swing high)


Confirm your chart-based trade setups with the Technical Analyzer.


dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis – Support Below 1.65 in Focus

Daily Chart - Created Using FXCM Marketscope 2.0




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


Contact and follow Ilya on Twitter: @IlyaSpivak


New to FX? START HERE


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.