The pound broke the level of 1.55 due to dissapointing GDP data from the eurozone which resulted in the downward pressure on the pound. Technical indicators, in particular CCI indicator, are in oversold area on the graphics, so it is imminent in the next few hours there will be a strong upward rebound to the weekly pivot level. So, given that this is the downward pressure on this pair, we recommend you in case of selling to close positions at this level or buy this pair at current price levels with objectives to 1.5675 and below the downtrend line medium term.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
