U.S. Markets closed

GBP/USD Technical Analysis: Pound Breaks Past July Top

Ilya Spivak


GBP/USD Technical AnalysisPrices are testing resistance at 1.5485, the 61.8% Fibonacci expansion, with a break above that targeting a falling trend line set from mid-December 2012 at 1.5556. This barrier is reinforced by the 76.4% level at 1.5576. A break above that eyes the 100% expansion at 1.5722. Near-term support is at 1.5412, the 50% Fib.


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


dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis: Pound Breaks Past July Top

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.