FX.co ★ GBP/USD: technical analysis for May 29, 2013

GBP/USD:

Resistance: 1.5260 (sell below this level).

Support: 1.5000 (buy above this level for retesting this level for a short period).

Trend (time frame: H1/H4): Upward (there is still an ongoing bullish trend).

Range: 210 pips (weekly).

Trading recommendations:

According to the previous events, the price is still between the levels of 1.5180 and 1.5060.

The descending movement will probably be lower than the 1.5260 level with the first targets at 1.5150 and 1.5015.

Buy deals are recommended above 1.5000 with targets at 1.5175 and 1.525.