FX.co ★ GBP/USD - sell below 1.5350 - for April 16, 2013 (daily strategy)

The pound sterling responds to report inflation in the UK which was in line with expectations. It recovered some positions after a sharp decline late Friday and Monday. This pair is now trading below the weekly pivot of 1.5330, so we expect a more considerable fall of the pair, for the next few days. On the other hand, the pound may further raise its value if it can overcome 1.5340. Therefore, you can sell at current price levels with short-term objectives to 1.5157 and stop loss above 1.5350. In addition, yesterday the Momentum Indicator broke the MACD line, which is a sign bearish in the medium term.

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