GBPUSD Bullish Outlook for Feb. 29
Hi María here. I hope you enjoy this extra day for 2012!
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The Pound Sterling - U.S. dollar pair, overcame the moving average of 200 periods and found resistance in the weekly R_1, the MCD indicator is showing exhaustion, and a possible correction, at least until 1.5810.
Since it is the end of the month, and some take profits and liquidate their orders. entering buy deals at current levels of rates would be very dangerous.
In addition we recommend buying at the lower levels around 1.5830 with a target 1.6060. A break below 1.5800 will change our bullish outlook.
Have a great day
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