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Contributors Chart of the Day for August 7th, 2013 – GBP/USD

By Ilya Spivak

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.

gbpusd

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