FX.co ★ GBP/USD: technical analysis for July 17, 2013

Forecast (GBP/USD):

According to the previous events, the price has still been trapped between 1.5200 and 1.5130. Buy above 1.5050 with the first target of 1.5203, it might resume to 1.5280. Stop loss should be set below 1.5025. Below 1.5283 (1.5221: 100% of Fibonacci retracement levels) look for further downside with targets at 1.5153 and 1.5070. Stop loss should be set above 1.5330.

Intraday technical levels:

Date and Time: 17/07/2013 14:26

Pair: GBP/USD

Projected High: 1.5498

Breakout (Buy Stop): 1.5443

Strong Resistance (Sell Limit): 1.5413

Current Pivot: 1.5160

Strong Support (Buy Limit): 1.4906

Breakout (Sell Stop): 1.4881

Projected Low: 1.4831