FX.co ★ GBP/USD - Bearish outlook - for July 18, 2013 (daily strategy)

This morning the pound sterling was trading at the level of 1.5190. Given that yesterday it could not break the resistance zone of 1.5270, today it is located at 1.5190. It is more likely the pair continues falling, though, if at the American session the pair manages to rise to the level of resistance it would be a good opportunity to sell at these levels. The pound also weakened amid data on UK Retail Sales, in line with forecasts. Therefore, we recommend selling at current price levels, or if there is a pullback, keep selling, with objectives to support level 1.5048.

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