FX.co ★ GBP/USD Bullish Outlook for September 14, 2012 (Daily Strategy)

Amid the Fed’s announcement about monetary easing program expansion, the British pound gained strength.
As the currency was appreciated yesterday, it reached the record high of 1.6250. According to Fibonacci sequence, we expect a decline to 23.6%; buy when the level of 1.6012 is met. Indicators are showing an overbought position. The targets are to be placed at 1.6250 and higher at 1.65.

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