Weekly technical levels:
Date & Time: 26/05/2013 23:26
Pair: GBP/USD
Projected High: 1.5632
Breakout (Buy Stop): 1.5577
Strong Resistance (Sell Limit): 1.5547
Current Pivot: 1.5147
Strong Support (Buy Limit): 1.4746
Breakout (Sell Stop): 1.4721
Projected Low: 1.4671
Trading recommendations:
According to previous events, the price has still been trapped between 1.5180 and 1.5050.
Buy above 1.5000 with the first target of 1.5115, it might resume to 1.5221. Stop loss should be set below 1.4957.
Below 1.5280 (100% of Fibonacci retracement levels) look for further downside with targets at 1.5178 and 1.5070. Stop loss should be set above 1.5330.