GBP/USD Technical Analysis – Prices turned lower as expected after putting in a bearish Evening Star candlestick pattern. Sellers are now aiming to test support at 1.5075, the 38.2% Fibonacci expansion, with a break below that exposing the 50% level at 1.4964. Near-term resistance is at 1.5212, the 23.6% expansion, followed by the July 3 high at 1.5303.

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Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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