FX.co ★ GBP/USD Fractal 1.6135 for December 26, 2012 (Daily Strategy)

The pound in the American session today is showing a recovery after the fall on Monday, the daily fractal level 1.6135 is our key point. Above the fractal we can buy this pair with objectives to the level of dynamic resistance of 1.63, on the other hand, support for a rebound is found at 1.6190, uptrend line, below this level we recommend closing our bullish positions.

In the previous months the resistance level of 1.6310 was strong enough in April and September 2012, therefore, we can expect the growth of the pound is limited to the level of 1.63.

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