At the moment, GBP / USD traded at around 1.6450 marks. More interesting is the maximum of the now completed Tuesday. It is worth to note that the range of 1.6470/75 has been tested not once, but has to break it and failed. Consequently, this level is key and it should not be overlooked. Attempts to pass above this key area taken 5 days: July 29, August 1, 7 and 8 August, and yesterday, August 16. Technically, the net penetration level indicates further movement to 1.6745. Provided that your bullish sentiment, buy now with the expectation of penetration is impractical because there is no bull in the camp confident driving force. If you buy, then buy at lows. The fact that the Bears can afford to collect stop-loss orders, which are most likely in large volume is above this key area, and then sell at a profitable level
