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GBP/USD - Approaching 61.8% Fibonacci Retracement

GBP/USD has broken hourly support at 1.5136 (25/09/2015 low) and is heading toward the 61.8% Fibonacci retracement. Stronger support can be found at 1.4960 (23/04/2015 low). Hourly resistance can be found at 1.5659 (27/08/2015 high).

In the longer term, the technical structure looks like a recovery. Strong support is given by the long-term rising trend-line. A key support can be found at 1.4566 (13/04/2015 low).

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