FX.co ★ GBP/USD - strong resistance 1.54 - for April 11, 2013 (daily strategy)

The British pound is around 1.54 level which is the 38.2% Fibonacci retracement on the daily chart. This resistance will slow, at least in the short term, so it is likely there will be a correction to the levels of the bearish channel which was broken. In that area there is the fractal 1.5285. Therefore, it is recommended buying this pair in that support level with objectives in the medium term to the next fractal 1.5630. The Momentum Indicator still remains in positive territory, the break of the MACD signal will indicate fall for the British pound.

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