01.09.201115:41 Forex Analysis & Reviews: GBP/USD Bullish Above 1.6190 , September 01, 2011 (Daily Strategy)

Long-term review

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GBP/USD

During yesterday the pound lost ground, because the Net Lending to Individuals turned out to be negative. Anyway the fact of keeping intact the U.S. interest rate for two years and comments about a third incentive plan impede the dollar will rise.

In my view, the pound-dollar pair is also convenient to purchase their current price levels, but should pay attention to the level of proof of $ 1.6020. This level has to be overcome to allow the pair to continue to rise. Our price target over the medium term is located around the significant resistance level of 1.6560, dollars per pound.

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