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GBPUSD Classic Technical Report 10.08.2012

Ilya Spivak

Prices are drifting toward support at 1.6063, the 23.6% Fibonacci retracement level. A break below this boundary targets the 38.2% Fib at 1.5911. Near-term falling channel resistance lines up at 1.6209, with a break above that targeting 1.6300.

GBPUSD_Classic_Technical_Report_10.08.2012_body_Picture_5.png, GBPUSD Classic Technical Report 10.08.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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