FX.co ★ GBP/USD Bullish Outlook September 20 2011 (Daily Strategy)

GBP/USD

The pair sterling - U.S. dollar once again operates around the 1.5700 support level and therefore represents an interesting opportunity for the buy. In the short term is expected to advance easily pair towards 1.5880 resistance first, but then the pair-dollar British pound will have to face the important 1.5850 level test.

The clean break from the standard of proof represents an indication of the high potential for continued upward movement also to longer ranges. Preferred price targets for the year are around the 1.6000 resistance levels. On the contrary, the continuing negative trend with the drilling of 1.5550 support will finally end the positive outlook and lead to a new analysis of the situation.