GBP/USD: Fractal 1.5210 – daily strategy for May 17, 2013
May 17, 2013 3:00 pm
Being sustained above the daily fractal 1.5210, this morning the pound sterling has reversed to test the strength of the support. So we expect a bounce in this area. If it happens it is recommended to buy with targets at 1.5300 and 1.5395. In the previous months, 1.52 has served as support and resistance. A weekly close below this level will invalidate our bounce perspective. So we recommend placing the stop loss below weekly minimum 1.5160.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
Being sustained above the daily fractal 1.5210, this morning the pound sterling has reversed to test the strength of the support. So we expect a bounce in this area. If it happens it is recommended to buy with targets at 1.5300 and 1.5395. In the previous months, 1.52 has served as support and resistance. A weekly close below this level will invalidate our bounce perspective. So we recommend placing the stop loss below weekly minimum 1.5160.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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