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GBP/USD technical analysis for July 3, 2013

July 3, 2013 1:00 pm

 
GBP/USD: 
Resistance: 1.5340 (sell below this level).
Support: 1.5135 (buy above this level for retesting this level for a short period). 
Trend  (time frame: H1/H4): downward (there is still an ongoing bearish trend).
Range: 315 pips (weekly).
Volatility: 482.60.

The weekly pivot point will be set at the level of 1.5283.

Trading recommendations:
According to the previous events, the price is still between the levels of 1.5285 and 1.5250. 
The descending movement will probably be lower than the 1.5340 level with the first targets at 1.5290 and 1.5210. 
Buy deals are recommended above 1.5135 with targets at 1.5283 and 1.5335.
 
Intraday technical levels:
Date & Time:3/07/2013 13:46 
Pair:GBP/USD 
R3: 1,5432
R2: 1,5374
R1: 1,5316
S1: 1,5201
S2: 1,5142
S3: 1,5085

The material has been provided by InstaForex Company – www.instaforex.com

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