FX.co ★ GBP/USD Buy Above 1.5960 - For November 23, 2012 (Daily Strategy)

The pound is trading below 1.5956 fractal with bearish bias, as we mentioned yesterday. Any pullback will be a signal to buy this pair. The pair is trading at 1.5935 at the moment. If you are reading this review right now you can buy at these levels or the other possibility is to buy if the pair closes above 1.5960, over the daily fractal.

Since in the medium term we continue with our bullish outlook, we expect a decline, before upward trend continues to the level of 61.8% Fibonacci retracement near 1.5885. There will be a new opportunity to buy the pair near this level with targets until 1.6060, downtrend line and the line of the 32.8% of Fibonacci.

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

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