The weekly technical analysis of the GBP/USD pair:
Trading recommendations:
- According to the previous events, the GBP/USD pair is still moving between the levels of 1.5239 and 1.5034.
- Strong resistance will be formed at 1.5239 providing a clear signal for sell deals with a targets seen at the daily pivot point (1.5100) and 1.5064. On the other hand, stop loss should be placed above the double top at 1.5260.
- Strong level (support) will be formed at 1.5034 providing a clear signal for buy deals with a target seen at 1.5205.
Observations:
- The double top will be set at the level of 1.5239.
- We expect a range of 110 pips today.
- But it should be noted that the risk of 73 pips must make a profit of 110 pips.
- Volatility: 295. Therefore, the market indicates the lower volatility.
- The value of 23.6% Fibonacci retracement levels is 1.5022 (for confirming for the bullish market).
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/USD for December 14, 2015 . Thanks for your support.
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