FX.co ★ GBP/USD. Weekly and Monthly Pivot Points for 02 - 06 of January, 2012

The pivot point (PPv) is itself a level of support/resistance. It is considered as the largest price movement that can occur in a particular price. The pivot points are used in many ways, but typically are used to determine the overall market trend and to identify entry and exit levels.

In the charts, the weekly and monthly pivots are shown, you can use them as a map in your forex working, it will serve to identify possible points of entry and exit. I recommend using this tool, pivot points, in addition to other indicators of your choice.

You can copy or save these weekly pivot levels for easy reference, and when the market makes strong movements you will know beforehand, what level of price the market will rebound to or when it will change its trend.

_____WEEKLY____
Weekly - R3 = 1.6035
Weekly - R2 = 1.5865
Weekly - R1 = 1.5700
Weekly Pivot = 1.5530
Weekly - S1 = 1.5365
Weekly - S2 = 1.5195
Weekly - S3 = 1.5030

_____MONTHLY____
Monthly - R3 = 1.6163
Monthly - R2 = 1.5968
Monthly - R1 = 1.5751
Monthly Pivot = 1.555
Monthly - S1 = 1.5374
Monthly - S2 = 1.5046
Monthly - S3 = 1.4668