Trading recommendations:
- Pair: GBP/USD
- Date: 28/1/2014
- According to the previous events, the price of the GBP/USD pair has still been moving between 1.6640 and 1.6515.
Long buying:
- Buy above 1.65 in the short term with the first target of 1.6566, it might resume to 1.6634 (the weekly resistance 1).
Short selling:
- Outlook 1: Swing trade at 1.6666 in order to sell with a traget of 1.6520 in order to test the weekly pivot point at the level of 1.6514.
- Outlook 2: The area below 1.6500 looks for further downside with 1.6463 and 1.6395 as targets.
Notes:
- It should be noted that the market will turn bearish from the level of 1.6666.
- Volatility:145.42; therefore, the market indicates the higher volatility.
