GBP/USD Bullish Outlook, Juanary 20, 2011 (Daily Strategy)

GBP/USD

The British pound - U.S. dollar passed the first weekly resistance, which coincides with the 23.6% Fibonacci retracement, you can expect further increases of the pair up to $ 1.5590, representing 38.2%, then this level will have to be a downward correction to 1.5350.
We can buy at these levels of support with a medium-term goal to 1.5630 US dollars per pound. We will place a stop loss below the zone of weekly pivot.
The indicators show bullish trend in the short and medium term.