FX.co ★ GBP/USD Is Time to Buy - For October 05/ 2012 (Daily Strategy)

The British Pound has been forming a bullish continuation pattern. We expect that it will rise. Given that today we know the jobs data from the United States, it is likely to continue an upward move to 1.63.
The last daily candlestick shows upside potential. If the price exceeds 1.62, the way would be free until 1.6280.
At a fundamental level, with the current satisfaction of Bank of England with its monetary policy and the Federal Reserve readiness to expand its quantitative easing policy, which seems to be limitless, it makes sense to wait for this currency pair should continue higher.
Therefore, we will buy this pair, with the condition that the pair is traded above the psychological level of 1.60.

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