[I][U]Technical:[/U][/I] [B]GBP/USD[/B]
[B]Resistance:[/B] 2.0600
[B]Support:[/B] 2.0200
In analysis of the price action of the GBPUSD pair, technical traders utilize key psychological prices in conjunction with Fibonacci levels to identify levels of resistance.
The below graph conveys this notion as the price action tests the 2.0200 (38.2% Fib) first, then ticks up to 2.0400 (23.6% Fib). Now trading at fresh 26-year highs, will cable hold its new resistance trending towards 2.0600?
See [I]Daily Technicals[/I] for more details