GBP/USD – Strong resistance 1.5360 – for June 04, 2013 (daily strategy)
Yesterday the pound sterling showed an upward movement, exceeding the level of our fractal 1.5330, also led by lower measuring U.S. manufacturing ISM. If you remember our previous analysis, this pair met all our expectations we had been saying the 1.5330 level. However, the construction PMI in the UK exceeds 50 points, which separates contraction from expansion of the sector, for the first time since last November. It is likely to see grow of this pair in the next few weeks, but only if it can hold above the 1.5330 level. Therefore, below this level the pair will have much downward pressure. It is recommended to sell at any price below 1.5360 with short-term targets to the level of 1.5080.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: firstname.lastname@example.org
The material has been provided by InstaForex Company – www.instaforex.com