FX.co ★ GBP/USD: Technical analysis for April 24, 2013

GBP/USD:

Resistance: 1.5340 (sell below this level).

Support: 1.5170 (buy above this level for retesting this level for a short period).

Trend (time frame: H1): Upward (there is still an ongoing bullish trend).

Range: 190 pips (weekly).

Trading recommendations:

According to the previous events, the price is still between the levels of 1.5210 and 1.5260.

The descending movement will probably be lower than the 1.5340 level with the first targets at 1.5285 and 1.5200.

Buy deals are recommended above 1.5170 with targets at 1.5290 and 1.5330.

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