FX.co ★ GBP/USD - Overbought - for June 06, 2013 (daily strategy)

This morning the British pound reached its maximum since 9 May. In the short term it is presenting an uptrend, which can continue even above 1.5580 in the coming days. Looking at the graph we see that the pair has not sustained any correction. It is likely that this pair finds strong resistance at the 1.5580 fractal. On the other hand, a return to the fractal which has been broken at 1.5334 will be a good opportunity to buy back this up with goals in the medium term until 1.56. The Momentum Indicator mark is 0.006, this point is equal to overbought levels of May 6, marking an imminent correction of the pair.

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