The British pound continues its downward path, reaching its lowest level since mid-July 2010 registering a minimum of 1.5131. Now it has begun to experience a slight recovery, but it is likely to be a consolidation in the area of 1.5150. It is worth noting that the British currency came already very weak, and although no relevant data was released this morning in the UK, today its fall is mainly due to the recovery of the greenback. During the upcoming weeks we hope to have a bounce upward to the 200 day moving average. We outlined the recommendation to operate the pair in the chart below.
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