FX.co ★ Technical analysis of GBP/USD for December 28, 2015

The weekly technical analysis of the GBP/USD pair:

Trading Recommendations:

• According to the previous events, the GBP/USD pair is still moving between 1.4841 and 1.4980 this week. .
• Buy above 1.4841 with the first target at 1.4944, it might resume to 1.4980.
• Below 1.5030 (161.8% of Fibonacci retracement levels), look for further downside with the aim to test the levels of 1.4980 and 1.4950 again.

Observations:

• Please check out the market volatility before investing, because the scenario may have already been invalidate.
• Use historic prices to determine future prices.