FX.co ★ GBP/USD Bearish Outlook for July 26, 2012 (Daily Strategy)

The British pound was also favored with the announcement from the European Central Bank president, quickly surpassing the level of 1.5520. This level was forcing down the pair, the break led it to the current level of 1.5693 which the pair is testing now. We expect growth to the resistance 1.5732 weekly, it is likely that at this level the pair will find a strong resistance and therefore recommend selling at 1.5732 with targets at 1.5630 and 1.5530.
The MACD indicator is showing a possible reversal of the pair.

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