Weekly pivot point:
Trading recommendations:
GBPUSD: According to the previous events, the price has still been trapped between 1.5700 and 1.5650.
Long buying:
Buy above 1.5605 (the weekly pivot point) with the first target at 1.5681 in order to form a double top, it might resume to 1.5706 to test the first resistance for September 9, 2013.
Short selling:
Outlook: Below 1.5706 look for further downside with 1.5620 and 1.5564 targets. It should be noted that at the level of 1.5564 a double bottom will be formed.
Intraday technical levels:
Date & Time: 9/09/2013 13:13
Pair: GBP/USD
Projected High: 1.5942
Breakout (Buy Stop): 1.5887
Strong Resistance (Sell Limit): 1.5857
Current Pivot: 1.5593
Strong Support (Buy Limit): 1.5329
Breakout (Sell Stop): 1.5304
Projected Low: 1.5254
