FX.co ★ GBP/USD - sell below 1.5350 - for April 18, 2013 (daily strategy)

The British pound fell to a minimum of 1.5217 because data on Retail Sales in the UK fell in March, raising concerns about the prospects for growth in the first quarter. On the technical level, the pair found a bottom around 1.5249 weekly support, this pair today is bouncing above this level. Now it faces 1.5350 level again. Therefore, it is recommended selling at this level with goals in the medium term to the level of 1.5040. We are bearish below 1.54, because the Momentum Indicator is in bearish zone, thus a fall of the pair may be observed in the next few days.

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