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

The market sentiment remains fragile in the pound due to the current uncertainty as to whether Spain will seek a bailout which can make investors seek refuge in the U.S. dollar.
According to the pivot chart, the pound is trading around 1.6151 weekly support, this level is very important, the pair may fall to 1.6027 if goes below this support. On the other hand, if the pair trades above this level, we recommend buying with objectives to 1.63.
Our strategy is bearish for this pair, so we suggest to pay attention to the daily close, down from 1.6145. If this happens we recommend selling with objectives at the last support of 1.6127.
The indicators are showing a bearish sequence.