Forecast (GBP/USD):
According to the previous events, the price has still been trapped between 1.5360 and 1.6306. Buy above 1.6280 with the first target of 1.6280, it might resume to 1.5280. Stop loss should be set below 1.5025. Below 1.6356 (100% of Fibonacci retracement levels) look for further downside with targets at 1.6340 and 1.6416. (it should be noted that the level of 1.6356 will form a strong resistance for November 29, 2013).
Notes:
Range: 81pips. Risk of 81pips must make a profit of 121,50. The value of 50% Fibonacci retracement levels is 1,6317. Volatility: 132,16, therefore the market indicates the higher volatility.