Overview:
GBP/USD:
The resistance has been already set at the level of 1.5600 as well as the support has been set at 1.5598 for September 3, 2013. Therefore, according to the previous events, the price has still been trapped between 1.5580 and 1.5600, then it should be noted that the range today will be around 85 pips. Consequently, the trend in the 1H time frame is calling for a bullish market at the level of 1.5600. Hence, above 1.5600 look for further upside move with targets at 1.5645, if it can break the resistance for today (1.5645), so the price it will continue towards 1.5695 today. On the other hand, sell below 1.5635 with a first target at 1.5580; it might resume to 1.5595 tomorrow in order to test the strong support of this week.
Intraday technical levels:
Date & Time: 5/09/2013 13:06
Pair: GBP/USD
R3: 1.5761
R2: 1.5703
R1: 1.5670
PP: 1.5612
S1: 1.5579
S2: 1.5521
S3: 1.5488