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GBP/USD Technical Analysis For 19th August 2015, H4

GBP/USD Technical Analysis For 19th August 2015, H4 | 19 August 2015

19 August 2015, GBP/USD

Technical View

GBP/USD is trading with a bullish bias. The pair successfully crossed our long term resistant level 1.5668. As long as the pair trades above this level, long positions are recommended but with a first stop at 1.5718, and a second stop at 1.5789. In another case, should the price break out below the key level 1.5668, then short positions should be considered but with a stop at the support trend line

Trade Recommendations.

If you haven't bought GBP already, wait for it to retrace back to the key level 1.5668, then buy it. but with a first stop at 1.5718, and a second stop at 1.5789.

Bob Stan
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