GBPUSD: consolidation higher than 1.5259 support level

May 29, 2015

Sell on a level breakthrough of 1.5259 with 1.5165 target. Stop loss = 1.5310.

Reason for the trading strategy

The British currency remained under pressure after the publication of insufficiently strong data on the UK GDP for Q1 2015. In the reporting period, the indicator increased by 0.3% (q/q), being lower than the forecast of +0.4% (q/q). At a breakthrough of the 1.5259 support level, opening short positions in the pound is worth considering

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