The pound is facing strong resistance from 1.57 and I think that it could be crucial in the future. The area above zone from 1.57 to 1.58 could be quite tough and this currency pair is likely to change its direction in general. In the long term the EU negative prospect may affect this pair as well. It is likely that the pound fails to overcome 1.58
At this point, given that the indicators show upward force, we recommend buying at current levels of 1.5612 with targets up to 1.57 or even the 1.5730 resistance level weekly.
Performed by Gerardo Porras, Analytical expert
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