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Forex: GBP/USD Technical Analysis – Resistance Seen Above 1.62

Ilya Spivak


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Talking Points


  • Prices broke resistance at 1.6131, exposing the Oct 1 high at 1.6259
  • A further break above that aims for 1.6312 (trend line from July)
  • Back below 1.6131 targets 1.5899 (23.6% Fibonacci expansion)


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


dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis – Resistance Seen Above 1.62

Daily Chart - Created Using FXCM Marketscope 2.0




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


Contact and follow Ilya on Twitter: @IlyaSpivak


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