The British pound is trading below the weekly pivot of 1.5424. However, this pair attempted to test the strength of this level. If the pair fails to close above this level, the outlook remains bearish, which could continue its way, with primary objective at 1.5251. It is expected that in the course of the week it reaches the level of 1.5140 level.
Signals for May 13 - 18, 2013
Sell if it pullbacks and sell below 1.5424 (W_PVV) with take profit orders at 1.5251 and 1.5140, stop loss is above the first weekly resistance.
____WEEKLY_____
Weekly - R3 = 1.5819
Weekly - R2 = 1.5708
Weekly - R1 = 1.5535
Weekly Pivot = 1.5424
Weekly - S1 = 1.5251
Weekly - S2 = 1.5140
Weekly - S3 = 1.4967
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.6257
Monthly - R2 = 1.5912
Monthly - R1 = 1.5722
Monthly Pivot = 1.5377
Monthly - S1 = 1.5187
Monthly - S2 = 1.4842
Monthly - S3 = 1.4652
