FX.co ★ GBP/USD: weekly technical levels for July 22 - 26, 2013

Weekly pivot point:

Trading recommendation:

• According to the previous events, the price of the GBP/USD pair is still between the levels of 1.5270 and 1.5310.
• The descending movement will probably be lower than the 1.5380 level with the first targets at 1.5280 and 1.5225.
• Buy deals are recommended above the 1.5191 level with targets at 1.9279 in order to form double top at this level, and it will resume towards 1.5010.

Observations:

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