Weekly technical levels:
Trading recommendations:
GBP/USD: According to previous events, the price has still been trapped between 1.6320 and 1.6380. Psychological Level is at 1.6300. Buy above 1.6300 with the first target of 1.6370, it might resume to 1.6420. Below 1.6470 look for further downside with a target at 1.6350 in order to test the weekly pivot point at the level of 1.6346 on December 23, 2013.
Warning:
Stop loss should never exceed your maximum exposure amounts. Risk to reward ratios are important and should be calculated. Example: A risk reward ratio of 1:1.5 is recommended: Risk: 124 pips should make a profit of 186 pips. 124 pips * 1:1.5 = 186 pips.