The weekly and monthly pivot chart for GBP/USD indicate that the pivot points are placed according to the maximums and minimums of last week.

The pivot point should be the first place to look for in order to open a trade

The more times a currency pair touches the pivot level and then returns, the stronger the level is.

Recommendations to work at these levels:

• If the price is in the PP (Pivot Point), expect a move to R1 or S1
• If the price is R1, wait for a move to R2 or back towards PP
• If the price is in S1, wait for a move to S2 or back towards PP
• If the price is R2, wait for a move back to R3 or R1
• If the price is in S2, wait for a move back to S3 or S1
• No news important to influence the market, then probably the price will move to the pivot S1 or R1
• If there are news, important to influence the market, the price may be sent directly to R2 or S2 or S3 and reach R3.

If you would like to get this indicator, feel free to adress me via e-mail: [email protected]

If you like my technical analysis, please vote for me by clicking here!

____WEEKLY_____
Weekly - R3 = 1.5886
Weekly - R2 = 1.5743
Weekly - R1 = 1.5607
Weekly Pivot = 1.5464
Weekly - S1 = 1.5328
Weekly - S2 = 1.5185
Weekly - S3 = 1.5049

Signal:

Buy Long Above at 1.5450 and Take Profit at 1.5610

_____MONTHLY____
Monthly - R3 = 1.6868
Monthly - R2 = 1.6557
Monthly - R1 = 1.5981
Monthly Pivot = 1.5670
Monthly - S1 = 1.5094
Monthly - S2 = 1.4783
Monthly - S3 = 1.4207