GBP/USD Month Open at 1.5207; Near Term Resistance at 1.5150/70
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Prices pulled back as expected after putting in a Spinning Top candlestick. The pair is now consolidating above support at 81.99, the 14.6% Fibonacci retracement. Resistance is at 84.17, the March 15 high, with a break above that targeting the 123.4% Fib expansion at 84.33. Alternatively, a drop below support eyes the 23.6% retracement at 81.48. Forex_Analysis_USDJPY_Classic_Technical_Report_12.03.2012_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 12.03.2012 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 . View comments
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