FX.co ★ GBP/USD - Bearish outlook for July 26, 2013 (daily strategy)

The British pound has shown a bullish force that has stopped in the second weekly resistance. We expect that the market is waiting to see what will happen next week due to planned FOMC meeting. Watching our graph we see that the pound is overbought and the Momentum Indicator is showing a clear bearish signal. We recommend selling at any level below 1.5444 (W_R2). If this level is broken, please stop selling and wait the next input confirmation.

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