FX.co ★ GBP/USD Bullish Outlook for August 21, 2012 (Daily Strategy)

The pound sterling is trading near the maximum of June 20 this time and above the 200 day moving average periods (blue). If the pair closes today negotiations over this level, it will increase the likelihood of rise extension towards the level of 1.5950 (daily fractal) given that indicators are showing low volatility, there is a probable return to the 1.5710 support area. At this level we recommend to buy with targets 1.5930, our stop loss will be placed below the 1.5650 weekly support.
Our outlook for this pair is bullish in short term.

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