The British pound has broken the long-term bullish channel which shows there can be deeper downward sequence, in view of that the pair is in oversold area and the momentum indicator is showing bullish signals, which are more likely to return to the area of 61.8% retracement Fibonacci (sequence of maximum 1.6301 - 1.5638 the lowest so far) Therefore, we recommend selling in the zone around 61.8%of 1.6047 to long-term goals to 1.5267. We should add that the pair is forming a figure reversal technique, which has the objective of 1.5200. You can visualize on the graph.
Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
