The British Pound had a downward pressure on Wednesday. In the medium term, the pair is showing a correction to the 1.58 level, but it will be difficult to break to the downside the psychological level of 1.60. Now it is not known if the pair continues its uptrend or takes a break until 1.58 support.
At a fundamental level, with the current satisfaction of Bank of England with its monetary policy and the Federal Reserve readiness to expand its quantitative easing policy, which seems to be limitless, it makes sense to wait for this currency pair should continue higher.
Therefore, we will buy this pair, with the condition that the pair is traded above the psychological level of 1.60.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.
