The British pound fell back to its second weekly support level which is the strongest support to beat - 1.5545, as the governor of the Bank of England King wass bringing the report on inflation rate. He was talking about increase in injections into the economy in order to avoid recession as about one of the relevant issues.
Therefore, below the level of 1.5545 the fall could be increased to the level we were mentioning as the key one for several days, 1.5350. We recommend short-term buy, cautiously above the weekly support, with objectives to 1.5750. Technical indicators are oversold, it is likely that for the next few days the pound will have a bullish correction.
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