GBP/USD Sell Below 1.5680 for August 10, 2012 (Daily Strategy) 2012-08-10
The pound sterling is quoted below weekly pivot line, so it means that a close below this level could push the currency down to 1.5506. As you know the market is trying to rebound in the levels of support, so it is likely to rebound towards the 1.5675. At this level we recommend selling to the nearest targeted support 1.5506. Furthermore, if after trading session the pair is above 1.5690, we recommend close our short positions as during the next week we could see a recovery of the pound sterling. Both, MACD and trend indicators are showing mixed trend.