FX.co ★ GBP/USD daily strategy for May 3, 2013

The British pound moved within a bearish channel in the weekly chart. In the short term, the trend is slightly upward, but only a break of 1.56 will accelerate its growth. This pair is now trying to break the bearish channel ceiling is likely to be a downward pressure, to drive the minimum of 1.5280 as the first target. In the medium term, we expect a fall to the level of 1.5033. On the other hand, the momentum indicator and MACD are showing an imminent correction of the pair in the coming days.

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