The weekly technical levels of GBP/USD pair.
Trading recommendations:
According to the previous events, the GBP/USD pair has still trapped between 1.6840 and 1.6780. Sell below the level of 1.6864 which represents the weekly resistance 1 with the first target at the 1.6790 price. Moreover, if the trend does not fail to close below the level of 1.6780, It will call for downtrend in order to continue its bearish movement towards 1.6732 in order to test this strong support (it should be noted that the price of 1.6720 is going to form the weekly support 1). At the same time, the stop loss should be placed at the level of 1.6883.
Intraday technical levels:
Date and time:9/06/2014 12:15
Pair: GBP/USD
Projected high:1.7071 Breakout (buy stop):1.7016 Strong resistance (sell limit):1.6986 Current pivot:1.6770 Strong support (buy limit):1.6554 Breakout (sell stop):1.6529 Projected low:1.6479