Last week the pound fell during the American session, because in the United States there were added 265,000 jobs during the month, and as a result after the announcement this pair fell to a low of 1.4883.
What is more important is that this downward movement broke the psychological support level of 1.50. Analyzing pivots, we note that the weekly pivot is located at the price of 1.5001; we expect it will reach this level to enter a sales strategy, with objectives to the second weekly support.
Signals for March 11 - 16, 2013
Sell if pullback is around 1.5001 with take profit at 1.4801 and 1.4687, stop loss is above 1.5119 (W_R1).
____WEEKLY_____
Weekly - R3 = 1.5433
Weekly - R2 = 1.5315
Weekly - R1 = 1.5119
Weekly Pivot = 1.5001
Weekly - S1 = 1.4805
Weekly - S2 = 1.4687
Weekly - S3 = 1.4491
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.6475
Monthly - R2 = 1.6176
Monthly - R1 = 1.5670
Monthly Pivot = 1.5371
Monthly - S1 = 1.4865
Monthly - S2 = 1.4566
Monthly - S3 = 1.4060
