The British pound is struggling to stay in the area of 1.55. This pair does not easily leave this psychological level. If you look at the graph there is an important support in 1.5381. If the pound loses 1.55 level, the fall is imminent until weekly first support at this level. There is a strong support, so we will take advantage of this support zone buying this pair only if it comes to this level. On the other hand, if the pair closes on daily charts above 1.5510, we can buy with objectives to the level of the 200 day moving average periods, around 1.5880.
Signals for February 18 - 23, 2013
Buy if the day closes above 1.5510 with take profit at 1.5730 and 1.5880, stop loss is below 1.5381 (W_S1).
Buy if it rebounds at 1.5381 with take profit at 1.5595 and 1.5730 (W_R1), stop loss is above 1.5246 (W_S2).
____WEEKLY_____
Weekly - R3 = 1.6079
Weekly - R2 = 1.5944
Weekly - R1 = 1.5730
Weekly Pivot = 1.5595
Weekly - S1 = 1.5381
Weekly - S2 = 1.5246
Weekly - S3 = 1.5032
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.6901
Monthly - R2 = 1.6619
Monthly - R1 = 1.6238
Monthly Pivot = 1.5956
Monthly - S1 = 1.5575
Monthly - S2 = 1.5293
Monthly - S3 = 1.4912
