Trading recommendations:
According to the previous events, the price of the GBP/USD pair is still between the levels of 1.5190 and 1.5160. Moreover, it should be noted that the market was so stable and trend was also so clear (downward). Therefore, the descending movement will probably be lower than the 1.5260 level with the first targets at 1.5100 then it is going towards 1.5040 in order to test this support; if the trend can break this support easily then it should not think to buy today, but if the pair couldn't break the support in the level of 1.5040. Thus, it should buy deals above the 1.5040 level with targets at 1.5125, and it will resume towards 1.5252 in order to form double top at this level.
Intraday technical levels:
Date: 1/08/2013
Pair: GBP/USD
R3: 1.5358
R2: 1.5305
R1: 1.5234
PP: 1.5181
S1: 1.5110
S2: 1.5057
S3: 1.4986
