FX.co ★ GBP/USD: buy above 1.49 - daily strategy for July 10, 2013

The British pound has hit a fresh record low since June 2010. This means that despite Britain had revealed quite a heartening figures recently, they were not enough to reverse the downward move of its currency. On Tuesday, a weaker-than-expected manufacturing production data was unveiled and had the first daily negative impact on GBP. Now the pair is rebounding from these minimums and it’s likely to continue rising, so you can buy at current levels with targets at 1.5070 fractal area. Observing the chart, we see that the pound came to the last fractal around 1.4814, so we expect the next move will stop at 1.5070 fractal area.

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