Weekly pivot point:
Trading recommendations:
- GBPUSD: According to the previous events, the price has still been trapped between 1.6360 and 1.6300.
- Long buying:
- Buy above 1.8280 with the first target at 1.6350 in order to form a double top, it might resume to 1.6430 to test the first resistance on December 9-13, 2013.
- Short selling:
- Outlook: Below 1.6441, look for further downside with 1.8385 and 1.6310 targets. It should be noted that at the level of 1.6292, a double bottom will be formed.
Notes:
- Projected high: 1.6440
- Range: 210 pips (weekly).
- Projected low: 1.6215
