Trading recommendations:
According to the previous events, the GBP/USD pair is going to move between the level of 1.6635 and 1.6717. The resistance is set at the level of 1.6754. Consequently, the market will indicate a bearish opportunity below 1.6760, because the level of 1.6754 is going to act as strong resistance February 26, 2014. Accordingly, it will be a good sign to sell below this level today with the first target of 1.6680 in order to test the weekly pivot point in H1 chart. Moreover, if the trend succeeds to close below 1.6680, then the market will be continuing in downtrend below the weekly pivot point towards the level of 1.6544. But the stop loss should be placed above 1.6760 at the price of 1.6785.Intraday technical levels:
Projected high:1.6896 Breakout (buy stop):1.6841 Strong resistance (sell limit):1.6811 Current pivot:1.6684 Strong support (buy limit):1.6556 Breakout (sell stop):1.6531 Projected low:1.6481