FX.co ★ The market manipulations analysis of the GBP/USD by Alexey Portnov for 07/12/2010

As it was forecasted the pound continued to advance after correction. Now the price approached the strong resistance level of 1.5775, from which the correction will probably start. In case this level is broken through, the strong advance will start. I expect the second scenario will take place, but the price should strengthen above the 1.5775 level. As yet the price will consolidate under this level.
Trading recommendations:
- If you were opening long positions I recommend closing a half of them. If the 1.5575 level is passed, to buy again.