The pound managed to break the 1.6135 level fractal, now it is within a strong upward trend and it is likely to continue rising. However, it is a little exhausted and there is probably a correction downward just like the euro. Fractal level 1.6135 will be the key level again, which now serves as a support for this pair. If the pair reverses to that level, buying this pair will be an opportunity to negotiate with objectives to the level of 1.63.
For now we do not recommend sell because the pound will be very vulnerable to any fundamental facts, we recommend buying support levels.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
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For detail explanation and best discovery on market trends you may visit via GBP/USD Correction - For December 18, 2012 (Daily Strategy) . Thanks for your support on GBP/USD Correction - For December 18, 2012 (Daily Strategy)
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