FX.co ★ GBP/USD sell below EMA 200 - for February 07, 2012 (Daily Strategy)

The British pound is bouncing above the 1.5614 fractal. The data of monetary policy by the Bank of England gave a bullish move to the pair. But the pair continued downward pressure, although we have seen three times it was touching the level of 1.5630 and 1.5644. If the pair breaks it, the way will be clear until the next 1.5440 fractal. Therefore, we recommend sell, if there is a pullback to the level of the 200 day moving average periods (blue), above the 1.5614 fractal, you can buy with caution, as it is likely that this pair continues rebounding.

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