Being under downward pressure the British pound, fell to the level of 1.5281, because the unemployment rate in the UK, which showed a rise to 7.8%, was higher than expected. It gave a new impetus to the downward pound sterling, in its crossing with the dollar, technically complied with a figure of change in trend which had its target 1.5315, as we were talking about a few days ago. Now this pair on daily charts is in a very strong oversold point. Although we expect a small drop to the level of 1.5255, daily fractal level, but we can buy this pair at this low price with small lots, with goals to the level of 1.5615 (bearish trendline and daily fractal).
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For detail explanation and best discovery on market trends you may visit via GBP/USD: Expectation of rebound - for February 20, 2013 (Daily Strategy) . Thanks for your support on GBP/USD: Expectation of rebound - for February 20, 2013 (Daily Strategy)
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