GBP/USD Technical Analysis – Prices are testing resistance at a falling trend line set from the June 17 swing high, with a break above that targeting swing tops at 1.5391 and 1.5433. Near-term support is in the 1.5287-1.5303 area, marked by the 23.6% Fibonacci expansion and the July 3 high. A push beneath that exposes the 38.2% level at 1.5196.
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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GBP/USD Technical Analysis: Resistance Below 1.54 Holds Up
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