The British pound remains bullish above the 200 day moving average periods. We talked about it in the previous articles. However, according to the table of fractals, fractal is at the level of 1.5956, strong resistance. Recently this level act has acted as a strong support. Now it is the resistance that the pair must overcome before continuing its upward trend. Therefore, we recommend selling at this level, but if the pair closes above 1.5960, we recommend closing the order, because it is likely to be a bullish move higher.
In the long term we remain bullish from 1.5850, our key level. So if the pair manages to return to this level we can consider it as an opportunity to buy at low prices with medium-term targets to 1.6135 and 1.63.
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For detail explanation and best discovery on market trends you may visit via GBP/USD Fractal 1.5956 - For November 21, 2012 (Daily Strategy) . Thanks for your support on GBP/USD Fractal 1.5956 - For November 21, 2012 (Daily Strategy)
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