Review:
It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is, the market price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3. The first resistance of GBP/USD pair is projected at the level of 0.8921 today. The second resistance had already fixed at 0.8982. The area of 0.8980 / 0.9820 is a useful spot to sell in the long term this week. We expect a range of 63 pips on May 13, 2014. And 63 pips would make a profit of 94 pips. The value of 50% Fibonacci retracement levels is:0,8787. Volatility:149,38. As a rule, the market is highly volatile if the last day had a huge volatilityWeekly technical levels:
Date:13/05/2014
Pair:USD/CHF
Resistance 3:0.9091 Resistance 2:0.8982 Resistance 1:0.8921 Pivot point:0.8812 Support 1:0.8751 Support 2:0.8642 Support 3:0.8581