GBP/USD Technical Analysis 04.11.2013
GBP/USD Technical Analysis – Prices are testing resistance at 1.5354, the 50% Fibonacci retracement, with a break above that targeting the 61.8% level at 1.5478. Near-term support is at 1.5230, the 38.2% Fib. A break below that eyes trend line resistance-turned-support at 1.5120.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- 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.
