FX.co ★ GBP/USD Sell Bellow Fractal 1.6135 - For December 04, 2012 (Daily Strategy)

Yesterday the British pound was a very optimistic, because the manufacturing PMI data came out better than expected. This gave great impetus for the cable, and as a result, today it faces the daily fractal at 1.6135. It is very strong because this level in previous weeks has remained under downward pressure. So now it is trading at 1.6115, we recommend selling the pair at this time, provided that below 1.6135. The stop loss will place it above 1.6160.

In the long term we remain bullish on this pair from 1.5850, above the 200 EMA. Exercising in short term is now waiting for a correction of the upward movement.

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