FX.co ★ GBP/USD - Sell below 1.53 - for August 02, 2013 (daily strategy)

The downward pressure took the pound down to the 1.51 level. Right in the area of 1.5099 weekly support, since the Momentum Indicator failed to perform the breakdown of the MACD. This increases the likelihood of upward sequence for the next session. We believe the pair should stop at the level of the 100-day moving average around 1.53. This level will be key, so we recommend selling in this area with new objectives to 1.51. If we have a confirmation of the indicator, the pair could fall to the level of 1.48 in the short term.

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