Trading recommendations:
According to the previous events, the price has still been trapped between 1.5580 and 1.5477. Buy above 1.5480 with the first target at 1.5550, it might resume to 1.5690. Stop loss should be set below 1.5420. Below 1.5760, look for further downside move with targets at 1.5613 and 1.5500. Stop loss should be set above 1.5795.
Notes:
GBP/USD:
Resistance: 1.5760 (sell below this level).
Support: 1.5480 (buy above this level for retesting this level for a short period).
Trend (time frame: H1/H4): Upward (there is still an ongoing bullish trend).
Range: 210 pips (weekly).
Intraday technical levels:
Date & Time:12/06/2013 13:20
Pair:GBP/USD
Projected High: 1,5869
Breakout (Buy Stop): 1,5814
Strong Resistance (Sell Limit): 1,5784
Current Pivot: 1,5586
Strong Support (Buy Limit): 1,5388
Breakout (Sell Stop): 1,5363
Projected Low: 1,5313
