The British pound fell sharply to 1.5204 level and in a matter of two hours rebounded to the level of 1.5474. Due to the inflation report from the Bank of England, it is traded at this time, the highest since June 24. However, we see that the pair has momentum upward to above the 1.55 level, maybe reaching the 1.5533 level. At this level there is the 200-day moving average. The Momentum Indicator is set in a bearish channel and confirms the small upward path. Therefore, if the pair approaches the 1.5533 level, we recommend selling below this level at any price with targets at the level of 1.5332 and 1.5085.
Posted on: Wed, 07 Aug 2013 22:27:13 +0000
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