FX.co ★ Technical analysis of GBP/USD for December 19, 2013

Trading recommendations:

• GBP/USD: According to the previous events, the price has been between the levels of 1.6420 and 1.6355 The descending movement will probably be lower than the 1.6466 level with the first target at 1.6340 in order to test the weekly pivot point. If the price breaks it, then it will continue towards 1.6253. Buy orders are recommended above the 1.6250 level with a target at 1.6415 for December 19, 2013.

Notes:

• Resistance: 1.6466.
• Support: 1.6253
• Key level: 1.6340
• Range: 125 pips.