|GBP/USD Intraday Technical Analysis for April 5, 2012|
|AUD/USD Rebound for April 4, 2012 (Daily Strategy)|
GBP/USD broke through its uptrend line that led to the maximum of 1.6062. At this moment it is a key point of weekly support, and at this level has been very strong to break it during the previous sessions.
The fall of the pound happens due to the strong deterioration in investors’ sentiment on the world capital markets.
As the pound is at a key point of support, we recommend buying with the aim at 1.5970, which will be a pullback of the pair. In addition the definitive break of 1.5845 will give origin to a fall to 1.5716.
The Momentum indicator is showing an upward bounce.
Gerardo Porras Palomino is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
Analytical expert: Gerardo Porras Palomino
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