FX.co ★ GBP/USD Bullish Outlook, March 22, 2011 (Daily Strategy)

GBP/USD

The British Pound - United States dollar pair executed today a sharp rise , reaching a record high of 1.6400, a close in 4 hour candles below the 1.6340 level is a signal for an immediate entry into a sale agreement with a target to weekly pivot or even touch the uptrend line around 1.6150 level, at this level we expect the pair becomes bullish again, depending on If the pair is consolidating at this level and the daily trend line has not been drilled, we can take a long position with two realization Goals, the first at 1.6430 and the second at 1.6610 United States dollars for one British pound.