FX.co ★ GBP/USD Strong Resistance 1.5410 for February 22, 2013 (daily strategy)

The pound is moving away from its July 2010 low at 1.5132 reached yesterday. Take into account the Bank of England Minutes released on Wednesday, which showed disagreement between members about monetary policy. Some of them want to raise the asset purchase.

Now if you look at the graph we have traced the Fibonacci indicator showing a likely resistance level at 1.5410, above the 1.5445 fractal lies. This area is a massive resistance, so if the pair reaches that level, we recommend selling with targets around 1.5265.

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