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24.11.2011 09:23 AM
EUR/USD Intraday Technical analysis
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Trading recommendations
  • According to the previous events, the price of GBP/USD pair is going to move between the level of 1.6773 and 1.6840. 
  • Hence, the range of the GBP/USD pair will be around 65 pips today. 
  • The resistance has set at the level of 1.6866 this week. 
  • Equally important, the support has set at 1.6765 and it should be noted that the same level is representing the weekly pivot point.
  • Consequently the market will indicate a bearish opportunity below 1.6866, because the level of 1.6866 is going to act as strong resistance. 
  • Therefore, it will be a good sign to sell below this level today with the first target of 1.6765 in order to try to break the weekly pivot point in H1 chart. 
  • Furthermore, if the trend manages to close below weekly pivot point, then the market will be continuing in downtrend below the weekly pivot point towards the level of 1.6725.
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