29.11.201218:12 Forex Analysis & Reviews: GBP/USD Sell Bellow 1.6057 - For November 29, 2012 (Daily Strategy)

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Yesterday the British pound bounced above 1.5950, fractal. We mentioned it as a key level to buy. Now it is showing signs of exhaustion in upward sequence. There is a probability of a small upward movement until the downtrend channel. If the pair does not break it bluntly, it is a good signal to sell the pair with target at 1.5960.

The fact that the pound is above the 200 day moving average periods adds bullish strength for the pair, which we expect will reach the level of 1.61 and 1.63 in the medium term. So reversals of this pair meant opportunities to buy the pound.

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