Review:
- It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is, the market price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.
- The first resistance of GBP/USD pair is projected at the level of 0.8921 today.
- The second resistance had already fixed at 0.8982.
- The area of 0.8980 / 0.9820 is a useful spot to sell in the long term this week.
- We expect a range of 63 pips on May 13, 2014. And 63 pips would make a profit of 94 pips.
- The value of 50% Fibonacci retracement levels is:0,8787.
- Volatility:149,38. As a rule, the market is highly volatile if the last day had a huge volatility
Weekly technical levels:
Date:13/05/2014
Pair:USD/CHF
- Resistance 3:0.9091
- Resistance 2:0.8982
- Resistance 1:0.8921
- Pivot point:0.8812
- Support 1:0.8751
- Support 2:0.8642
- Support 3:0.8581
