GBP/USD – Strong resistance at 1.5330 – for May 31, 2013 (daily strategy)
Trading this morning the pound continued an upward trend, which aims to 1.5330. It met the objective, the daily fractal that we mentioned. If you look at the chart you will notice that the 1.53 level is a strong resistance area, so we could indicate the formation of a continuation pattern, which would be located at 1.47 for the next few months. Therefore, being firmly established the 1.5330 area is a key to the bearish outlook of the pound. Therefore, it is recommended to sell if the price is about the quote today or for the next few days below 1.5330 with the first target in the 1.5083 fractal. The Momentum Indicator is breaking the MACD moving average, we know this signal is showing resistance levels.
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