Forecast (GBP/USD):
- According to the previous events, the price has still been trapped between 1.5360 and 1.6306.
- Buy above 1.6280 with the first target of 1.6280, it might resume to 1.5280. Stop loss should be set below 1.5025.
- Below 1.6356 (100% of Fibonacci retracement levels) look for further downside with targets at 1.6340 and 1.6416. (it should be noted that the level of 1.6356 will form a strong resistance for November 29, 2013).
Notes:
- Range: 81pips.
- Risk of 81pips must make a profit of 121,50.
- The value of 50% Fibonacci retracement levels is 1,6317.
- Volatility: 132,16, therefore the market indicates the higher volatility.
