FX.co ★ GBP/USD - weekly and monthly pivot points and signals, for March 04 - 09, 2013

The British pound seems to have been in serious trouble for the last two weeks. The market has had a sharp drop from the level of 1.55 and it seems that this pair is ready to go lower. The psychological level of 1.50 is proving to be a support so far, but if the market drops below weekly support level, 1.4941, the fall would be quick to the level of 1.47. The market is going to have a bounce in this area, if that happens we sell at weekly resistance levels. In the course of the week if the pair closes above the weekly pivot, you can buy with objectives to the resistance level of 1.5315.

Signals for March 04 - 09, 2013

Sell if pullback is around 1.5081 with take profit at 1.4941, stop loss is above 1.51.

Buy if close is above 1.5085 with take profit at 1.5175 and 1.5315 (W_R2), stop loss is below 1.4941 (W_S1).

____WEEKLY_____
Weekly - R3 = 1.5409
Weekly - R2 = 1.5315
Weekly - R1 = 1.5175
Weekly Pivot = 1.5081
Weekly - S1 = 1.4941
Weekly - S2 = 1.4847
Weekly - S3 = 1.4707

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

_____MONTHLY____
Monthly - R3 = 1.6475
Monthly - R2 = 1.6176
Monthly - R1 = 1.5670
Monthly Pivot = 1.5371
Monthly - S1 = 1.4865
Monthly - S2 = 1.4566
Monthly - S3 = 1.4060