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    GBP/USD: Weekly Technical Levels for July 9 - 13, 2012

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    Technical outlook and chart setups:

    Gold is seen to be trading around the $1,095.00 levels at the moment looking to push through the $1,130.00/32.00 levels in the coming sessions. The yellow metal has been showing quite resilience around the $1,080.00 levels and note giving in to bearish setups for now, though it still remains a candidate to be sold on rallies. It is recommended to remain flat for now and look to short around the $1,130.00/32.00 levels which is also Fibonacci resistance as depicted here. Immediate support is seen around the $1,075.00 levels followed by $1,052.00, $1,030.00 and lower, while resistance is seen at $1,130.00 (interim) followed by $1,175.00 and higher respectively.

    Trading recommendations:

    Remain flat for now. Look to sell higher.

    Good luck!

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