The British pound lost bullish strength, with a drop of over 100 points from its monthly maximum. However, if you look at the chart you will notice that this pair failed to close above the 200-day moving average. Given that it is away from yesterday's highs, it is likely to intensify the fall of the pair for the next week. Although there may be a recovery of the pound in the short term, especially as a pullback will be a good chance to sell this pair at resistance levels with target at 1.5350. On the other hand, next week will be crucial for the pair.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: gerardo.porras@analytics.instaforex.com
