FX.co ★ GBP/USD: Weekly technical levels for April 29 - May 3, 2013

Weekly technical levels

Overview:

Projected High: 1.5886

Breakout (Buy Stop): 1.5831

Strong Resistance (Sell Limit): 1.5801

Current Pivot: 1.5347

Strong Support (Buy Limit): 1.4892

Breakout (Sell Stop): 1.4867

Projected Low: 1.4817

Weekly Trading Recommendations:

According to previous events, the price has still been trapped between 1.5785 and 1.5307.

Long Buying:

• Buy above 1.5430 with a first target of 1.5520, it might resume to 1.5610.

Short Selling:

• Outlook -1-: Swing trade at 1.5690 in order to sell with a traget of 1.5620.
• Outlook -2-: Below 1.5420 look for further downside with 1.5365 and 1.5310 targets.

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