FX.co ★ GBP/USD - Rebound around 1.5250 - for June 27, 2013 (daily strategy)

The pound is about to face the weekly support of 1.5272. This level is a massive support and may try to put pressure on the downside. If the pair stops in this area, it will be the time to buy. If the pair falls and then bounces back to this level, we can enter buying. However, if the pair closes the H4 below 1.5228, leave our bullish position. Since this week will be the end of the quarter we expect some volatility, and a rebound of the pairs trading against the dollar. However, one should be careful especially tomorrow, the pair could move around without a definite trend. On the other hand, observing the graph we note that the Momentum Indicator is showing a little sign of rebound, which will be confirmed by the pound if it stops between 1.5250/1.5272 levels.

If you need personal consultation, Skype: gerardofx or contact me via e-mail: gerardo.porras@analytics.instaforex.com