FX.co ★ GBP/USD: Technical analysis for February 20, 2013

Weekly pivot point: 1.5592.

GBP/USD:

Resistance:1.5460 (sell below this level).

Support: 1.5250 (buy above this level for retesting this level for a long period).

Trading recommendations:

According to the previous events, the price is still between the levels of 1.5360 and 1.5300.
The descending movement will probably be lower than the 1.5460 level with the first targets at 1.5320 and 1.5260.
Buy deals are recommended above the 1.5250 level with targets at 1.5380 and 1.5433.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.