FX.co ★ GBP/USD: intraday technical analysis for May 2, 2013

Weekly pivot point: 1.5308.

GBP/USD:

Resistance:1.5611 (sell below this level).

Support: 1.5517 (buy above this level for retesting this level for a short period).

Trading recommendations: (intraday)

According to the previous events, the price is still between the levels of 1.5520 and 1.5580.

The descending movement will probably be lower than the 1.5615 level with the first targets at 1.5560 and 1.5518.

Buy deals are recommended above the 1.5510 level with targets at 1.5580 and 1.5610.

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