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27.04.2012 05:24 PM
GBP/USD Bearish Outlook for April 27, 2012 (Daily Strategy)

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The British pound was maintained within an upward trend. Today during the American session it has reached the 1.6257 high, which is the highest level since September 2. We believe that the trend will not last for a long time, while maintaining upward direction; the rank and Momentum indicators are beginning to show signs of exhaustion, causing the imminent downward correction.

We therefore recommend selling at current levels of rates with short term up to the weekly pivot point around 1.6029.
Is important to note the strong level of resitencia of 1.6170. If this level is broken the way will be faster bearish for the British pound.

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