The GBP/USD pair operated with an uptrend yesterday; daily fractal is near 1.6135, hovering around this level. Higher up we noted the line of short-term downtrend, as you can see on the chart. If the pair breaks, we can see the beginning of a new upward wave towards 1.63.
At a fundamental level, the pound is strong against the dollar, because the British economy expanded more than expected in the third quarter.
On the other hand, the pair will remain affected by Spain and Greece's austerity measures.
Thus, it is recommended to exercise caution in the trading while you operate with the pair; always place stop loss.
Therefore, we suggest selling below the 1.6135 fractal. If the pair breaks the trend line, we can enter the bullish wave. You can decide whether to buy or sell.

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