FX.co ★ GBP/USD - Weekly and Monthly Pivot Points and Signals, For December 17 - 22, 2012

Last week the British pound managed to break above the key level of 1.6135, probably this week the upward trend to the level of 1.63 continues.
The currency is trading above the weekly pivot and above the 200 day moving average periods, and above the psychological level of 1.60. It is likely to be a downward correction towards the support nearest 1.6120 weekly pivot (W_PPV). Therefore, we consider that the following signal will have validity for all this week.

Signals for December 17 - 22, 2012

Sell if pullback is at 1.6227 (W_R1) with take profit at 1.6120 and 1.6062, stop loss is above 1.6285 (W_R2).

____WEEKLY_____
Weekly - R3 = 1.6392
Weekly - R2 = 1.6285
Weekly - R1 = 1.6227
Weekly Pivot = 1.6120
Weekly - S1 = 1.6062
Weekly - S2 = 1.5955
Weekly - S3 = 1.5897

If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com

_____MONTHLY____
Monthly - R3 = 1.6530
Monthly - R2 = 1.6353
Monthly - R1 = 1.6181
Monthly Pivot = 1.6004
Monthly - S1 = 1.5832
Monthly - S2 = 1.5655
Monthly - S3 = 1.5483