FX.co ★ GBP/USD: weekly technical levels for May 20 -- 24, 2013

Weekly technical levels:

Trading Recommendations:

According to previous events, the price has still been trapped between 1.5240 and 1.5160.

Buy above 1.5090 with the first target of 1.5150, it might resume to 1.5235. A stop loss should be set below 1.5055.

Below 1.5300 (61.8% of Fibonacci retracement levels) look for further downside with targets at 1.5240 and 1.5160. A stop loss should be set above 1.5390.

Please check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.

Use historic prices to determine future prices.