FX.co ★ GBP/USD: Weekly technical levels for March 18 - 22, 2013

Weekly technical levels:

Intraday technical levels:

Projected High: 1.5607 (top).

Breakout (buy stop): 1.5552

Strong Resistance (sell limit): 1.5522

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Strong Support (buy limit): 1.4484

Breakout (sell stop): 1.4459

Projected Low: 1.4409 (bottom).

Observations:

The Fibonacci retracement levels are used to determine accurate psychological levels of support and resistance.

Stop loss should never exceed your maximum exposure amounts.

Risk to reward ratios is important and should be calculated.

Example:

A risk reward ratio of 1:1.5 is recommended:

Risk: 30 pips must make a profit of 45 pips.

30 pips * 1:1.5 = 45 pips.

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