The pound has touched 1.5670 this morning. It recovers slightly but remains very bearish in the medium term. Its target is at the 1.5350 area. If you look at the chart below, this pair is below the moving average of 200 periods. Therefore, it is likely to be a rebound until the 1.59 level. Below this level it is recommended to sell. On the other hand, in the short term if this pair closes candles on the h4 above the weekly pivot, you can buy with targets that we have drawn down.
Signals for February 04 - 09, 2013
Buy if the day closes above 1.5748 (W_S1) with take profit at 1.5821 and 1.5951, stop loss is below 1.5618 (W_S1).
Sell below 1.5710 with take profit at 1.5618 and 1.5545, stop loss is above 1.5821 (W_R1).
____WEEKLY_____
Weekly - R3 = 1.6024
Weekly - R2 = 1.5951
Weekly - R1 = 1.5821
Weekly Pivot = 1.5748
Weekly - S1 = 1.5618
Weekly - S2 = 1.5545
Weekly - S3 = 1.5415
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.6901
Monthly - R2 = 1.6619
Monthly - R1 = 1.6238
Monthly Pivot = 1.5956
Monthly - S1 = 1.5575
Monthly - S2 = 1.5293
Monthly - S3 = 1.4912
