|EurJpy Pullback On Track. Resistance Starts From 98.10/20|
|EUR/USD Bearish Outlook for July 17, 2012 (Daily Strategy)|
The British pound gain strength amid a downward correction, currently its short-term uptrend is not in danger. The weekly resistance level 1.5704, which is the key to the pair, has a clear path and can continue its way to the south. We believe that this will happen only when it has resolved the major part of the problems within the European Union. Taking into account that gloomy future, we recommend selling at the level of 1.5704 with targets at 1.5520.
On the other hand, a return to the weekly pivot line recommend buying at this level the pair, again sought to break the 1.57.
The trend indicator shows bullish strength.
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Analytical expert: Gerardo Porras Palomino
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