The pound managed to break the daily fractal level 1.6135. This level is the point that we must observe in order to decide the future of the pair. If the price closes the week above this level it is likely that the next day the pound can move towards the key level of 1.63. On the other hand, if the pair manages to close below this level you can sell up to 1.6024 targets, level of the moving average of 50 periods.
We must be attentive to the fundamental data today from the Fed, we recommend to operate after the announcements.
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 Fractal 1.6135 Key Level - For December 12, 2012 (Daily Strategy) . Thanks for your support on GBP/USD Fractal 1.6135 Key Level - For December 12, 2012 (Daily Strategy)
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