FX.co ★ GBP/USD - bullish outlook - for March 05, 2013 (daily strategy)

In the short term the British pound is coming out of the downward pressure that led it to trade on the level of 1.4990 last week. This morning on the daily chart the pair was with a bullish bias. We expect this will continue to the fractal level 1.5268. The increase was observed, as during the European session PMI Services came out better than expected, with 51.8 points, higher than expected. We believe that the level of 1.50 will remain the key support level. On the other hand, the momentum technical indicator is showing a bullish sign for the next few days.

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