25 August 2015, GBP/USD
GBP/USD is trading with a bullish bias. we expect the price of the pair to go bearish from the key level 1.5900. In addition, if the price close above the level 1.5801, then there are chances that it could move further to 1.5900 since the level 1.5801 represents a minor but an important resistance. Therefore, a good sell signal should be at 1.5900 since it's a key resistance zone from the previous week. Any movements above the level 1.5929 will signals further movements to the upper side. Traders willing to sell this pair should wait for a sell signals at other pairs such as EUR/USD, and a Buy signals at USD/JPY. The latter is negatively correlated to GBP/USD.
Wait for price to approach 1.5900, then expect the price to move in a corrective manner, (bearish). However, should the price successfully close above 1.5929, then long positions are recommended.
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