The pound has continued bouncing above 1.5850 and the 200 day moving average periods. Now it has the daily fractal 1.5956 in front. Now this level serves as a resistance, so we must observe the price. If the pair is below this level you can sell with targets back towards 1.5870 support. I suggest placing stop loss above yesterday's high. However if your strategy is to buy, a close above 1.5965 increases the likelihood that the pair could continue its upward movement to 1.6066, the moving average level of 100 periods and Fibonacci retracement line. Given that in the medium term we remain bullish for the pound, you should consider all retreat to the daily supports, as there is an opportunity to buy the pair. I think that in the coming months, the pound will be trading at the key levels of 1.63 and 1.65.
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