It should be noted that the market was so stable and the trend was also so clear (upward). Range was: 225 pips (upward). The value of 100% Fibonacci retracement levels is: 1.5880. (The key level to confirm a bearishmarket for next week). Volatility is 370.55, thus, the market has called for a high volatile. Overview: GBP/USD: The resistance has been already set at the level of 1.6060 as well as the support has been set at 1.5700 for September 18, 2013. Therefore, according to the previous events, the price has still been trapped between 1.5980 and 1.5950, then it should be noted that the range today will be around 110 pips. Consequently, the trend in the 1H time frame is calling for a bearish market at the level of 1.5980. Hence, below 1.5980 look for further downside move with targets at 1.5875, if it can break the support for today (1.5875), so the price will continue towards 1.58035 today. On the other hand, buy above 1.5700 with the first target at 1.5820; it might resume to 1.5966/1.6060 (area for selling) next days in order to test the strong resistance again this week. Intraday technical levels: Support: 1.6060. Resistance: 1.5700 It should be noted that the range today: 110 pips.
