The weekly technical analysis of GBP/USD pair:
Trading recommendations:
According to the previous events, the GBP/USD pair is still trapping between the levels of 1.5515 and 1.5213. The level of 1.5515 represents the weekly pivot point and the weekly support one is set at 1.5213. Therefore, we expect a range of at least 302 pips this week. Sell below the level of 1.5515 in the short term with the first target at 1.5335 in order to form a double bottom. Moreover, if the trend is be able to break the double bottom at 1.5335, it might move towards the first weekly support at 1.5213.