FX.co ★ GBP/USD - Sell if close below 1.5352 - for July 23, 2013 (daily strategy)

The British pound, on the daily graphics, has formed a double top technical pattern, a close below 1.5323 will be the beginning of this move lower to 1.5260 level as the first goal. If this level is broken, the fall could be faster to the weekly pivot level of 1.5191. Therefore, we recommend selling below 1.5352 and stop loss above the maximum of yesterday. On the other hand, the Momentum Indicator is showing a bearish signal, which is more probably a decline in the pound for the next few days.

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