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GBP/USD Technical Analysis 04.12.2013

Ilya Spivak

GBP/USD Technical AnalysisPrices broke above resistance at 1.5354, the 50% Fibonacci retracement, exposing the 61.8% level at 1.5478. A further push beyond that eyes the 76.4% Fib at 1.5631. The 1.5354 mark has been recast as near-term support, with a reversal back beneath that aiming for the 38.2% retracement at 1.5230

Forex_GBPUSD_Technical_Analysis_04.12.2013_body_Picture_5.png, GBP/USD Technical Analysis 04.12.2013

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

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