FX.co ★ GBP/USD Strong Resistance 1.5410 for February 26, 2013 (daily strategy)

The British pound movement is affected by the downgrade of its debt rating by Moody's. It was taken to a minimum of two years and a half. Now we see in the graphics that it is very oversold and trying to recover from this strong downward pressure. This pair have a dynamic resistance 1.5412, this level is the daily fractal. A massive resistance in previous years has been very strong to overcome, so in the next few days we expect the pound to reach this level. In view of this, you can sell at this level with objectives to the level of 1.5150.

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