FX.co ★ GBP/USD - Key level 1.5402 - for June 21, 2013 (daily strategy)

Yesterday the pound sterling could rebound to the 1.5550 area. However, it trades below 1.55 and moves to the level of 1.5402, very strong support level. Given that the 1.54 level has been a key to the decision of the pair, it is bullish or bearish. Therefore, it is recommended to buy above 1.5402 with targets up to 1.5554. On the other hand, a close below 1.54 will be the beginning of continuation of sales to the level of 1.5160 in the short term. If you look at the chart, the Momentum Indicator is finding support the current levels of price representing a rebound in the next few hours. But if the Momentum Indicator would break dynamic support, it would be sell signal with a fall of about 300 points. Therefore, we recommend observing the key level of 1.54.

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