FX.co ★ GBP/USD Fractal 1.5956 For October 23, 2012 (Daily Strategy)

The British pound is trading below 1.60. There is probably a drop to 1.5956 fractal, this is a strong upward bounce level. We recommend buying at this level.
At a fundamental level, if GDP data begins to show signs of "economic growth", then the real growth could be seen in new highs in the currency.
Now, we are facing the last support of the pair below 1.59, the scenario would be completely bearish for the pound, until the 200 day moving average period. So we must be very careful about the size of the lot that we are negotiating.
The technical indicator is showing a potential rebound on the aforementioned levels.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.