FX.co ★ GBP/USD technical analysis for June 14, 2013

Trading recommendations:

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

Long buying:

Buy above 1.5480 with the first target at 1.5550, it might resume to 1.5690.

Stop loss should be set below 1.5420.

Short sell:

Below 1.5760, look for further downside move with targets at 1.5613 and 1.5500.

Stop loss should be set above 1.5795.

Notes:

Resistance: 1.5760 (sell below this level). Therefore, it should be noted that the market will be called for bearish market.