GBP/USD Technical Analysis. Market Profile Levels For October 04, 2010

Market Profile level for Intraday tradng :

1.5846 (09/24)

1.5830 (10/01)

1.5805 (09/28)

1.5800 (09/29)

1.5718 (09/30)

Now, GBP/USD is stuck between the balance level areas 1.5846-1.5800, if the pair breaks through and closes below 1.5783, then it can move down to a balance bevel area of 1.5718. If this happens we must take into account three possible decisions first: to close all positions after the pair hits 1.5718, secondly: to close half of position and move the stop loss level to breakeven point for the rest positions, or thirdly: to close all the position and trade for the countertrend (BUY Position).
On the other hand, if the pair moves up and breaks the mark of 1.5814, it can move further to 1.5922.