Log in

GBP/USD Technical Analysis For 26th August 2015, H4

26 August 2015, GBP/USD

Technical View
GBP/USD is currently trading with a bearish Bias. The pair bounced off from a key resistance level 1.58000, and is currently headed short. As long as the pair trades below this level, short positions are recommended, but with a stop at 1.5644, and the next stop at the support trend line. These downward movement can also be supported by the fact that, the technical inductor, intraday stochastic is trading below its neutrality level 50. The downward movement is however expected to be short lived up to 1.5644. In case the pair closes below the lower support trend line, short positions are further recommended.

Trade recommendations

As long as the pair trades below 1.58000, short positions are recommended but with a stop at 1.5644. Anyone willing to buy the pair should wait for price to bounce off around 1.5665 and 1.56447

Graham Osano
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.