Chart of the Day for July 10th, 2013 – GBP/USD
By Ilya Spivak
Prices broke support at 0.9134, the 14.6% Fibonacci retracement, exposing the 23.6% level at 0.9005. A further push beneath that targets channel support at 0.8859. Positive RSI divergence continues to warn of ebbing downward momentum, however. A move back above 0.9134 sees the next upside barrier at 0.9250, the channel top.