FX.co ★ GBP/USD Key Fractal 1.5235 for February 28, 2013 (daily strategy)

The pound sterling resumes its uptrend within 4H chart after touching a new low of more than 2.5 years this week. Further up it has a very strong obstacle of fractal 1.5235 that is pressing the pair down. In order to confirm the trend change, the pair must break this level and close above it. Thus, if the pair takes a pullback to the fractal, it is recommended to sell it with the objectives to 1.5160. Buy the pair above 1.5235 with the goal towards 1.5410 fractal. The momentum indicator is under the downward pressure, although no bullish signals can be seen.

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