FX.co ★ GBP/USD: weekly technical levels for June 11 -- 14, 2013

Weekly technical levels:

Trading recommendations:

According to previous events, the price has still been trapped between 1.5580 and 1.5477.

Buy above 1.5310 with the first target of 1.5475, it might resume to 1.5588. Stop loss should be set below 1.52.

Below 1.5680 (100% of Fibonacci retracement levels) look for further downside with targets at 1.5495 and 1.5325. Stop loss should be set above 1.5770.

Warnings:

• Stop loss should never exceed your maximum exposure amounts.
• Usually the market has a high volatile, if the last day had a huge volatility.