FX.co ★ Weekly technical levels of GBP/USD for May 5-9, 2014

The weekly technical levels of GBP/USD pair.

Notes:

• If there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.
• According to the previous events, the GBP/USD pair is going to move between 1.6803 and 1.6920 this week.
• The resistance will be set at the level of 1.6940
• The support has already been placed at the price of 1.6793.
• We expect a new range about 135 pips this week.
• The key level will set at the level of 1.6660.