FX.co ★ GBP/USD Bullish Outlook for April 11, 2012 (Daily Strategy)

The British Pound was trading upwards this Wednesday, moving away from the danger zone and trying to reach the 1.60 level.

The test level 1.5913 / W_PP) is the key level for the growth of the British pound. If the day closes below this level, the price will likely reach the 1.5783 level, which is equal to 61.8% of Fibonacci retracement, on the other hand, if the market closes above this level buy short-term objective 1.6023 is recommended.

The MACD indicator is showing bullish signals.