FX.co ★ GBP/USD - Bullish outlook - for February 19, 2013 (Daily Strategy)

The British pound recovers positions. You can see from the chart the breakdown of the downtrend line. The British currency does not raise head for several weeks, and only overcoming 1.5530/50 (Fractal 4 hours) the currency could get little more force. In the long term we expect the pound manages to reach the level of 1.5340. It is likely to be a bullish rebound in the short term until 1.5675/1.57 level. So we will take advantage of this movement with a buy position above 1.5490 with targets to fractal 1.57.

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