GBP/USD
Due to concerns over the European debt crisis, the British pound/ US dollar pair dove sharply from its previous highs of 1.6300 and to its present levels around 1.5550. The likelihood for a trend reversal or at the very least a technical correction have risen sharply after the pair was braked by the strong support level of 1.1550 US dollars for one British pound.
Although it is possible to enter a buy deal even now, a daily close over the support level will add confidence to the upwards movement. On the other hand, one must be careful regarding the possibility for continued negative momentum. In the case of a final breach at 1.5480 will produce a signal for a position reversal and move to a sell deal on the pair with an exit goal around the next support level around 1.5250 US dollars per one British pound.
