FX.co ★ GBP/USD - Buy long above 1.5050 - for May 28, 2013 (daily strategy)

This morning the British pound was above 1.51 level, but it failed to break the barrier of 1.5152, which could not been reached on Monday. But the passing of which would give impetus for virtually the rest of the week in upward direction. Now this morning the pair moved away from daily fractal level 1.5080. We expect that before breaking 1.5150 resistance, it must return to find further bullish momentum. Therefore, we recommend buying at 1.5080 or 1.5050 levels, with stop loss at 1.5030 or a medium-term strategy in 1.4980, our we place our focus on 1.5330.

On the other hand, the Momentum Indicator is showing a small bearish signal that could have a stop at 1.5080/1.5050.

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