FX.co ★ GBP/USD - Is Time to Buy- For February 15, 2013 (Daily Strategy)

The British pound was trading above the weekly support level 1.5461 this morning during the European session. Now it is bouncing from it but it is likely that this movement is correctional and will continue until the resistance level of 1.5673. Therefore, if you observe the momentum indicator is showing a bullish signal very clear, it would be good to pay attention to it and buy this pair. So we should buy at the 1.5487 level with targets at the level that we mentioned. This pair is in downtrend, so this strategy is a part of a correction of the pair.

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