GBP/USD, Weekly and Monthly Pivot Point, For 06 - 10 February, 2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.
The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

_____WEEKLY____
Weekly - R3 = 1.6141
Weekly - R2 = 1.6012
Weekly - R1 = 1.5912
Weekly Pivot = 1.5783
Weekly - S1 = 1.5683
Weekly - S2 = 1.5554
Weekly - S3 = 1.5454

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_____MONTHLY____
Monthly - R3 = 1.6520
Monthly - R2 = 1.6157
Monthly - R1 = 1.5958
Monthly Pivot = 1.5595
Monthly - S1 = 1.5393
Monthly - S2 = 1.5033
Monthly - S3 = 1.4834


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