GBP Trading Outlook (02-09-2015)

GBPUSD

Pivot: 1.538

Likely scenario: Short positions below 1.538 with targets @ 1.5265 & 1.521 in extension.

Alternative scenario: Above 1.538 look for further upside with 1.5445 & 1.55 as targets.

Comment: As long as 1.538 is resistance, likely decline to 1.5265.

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