manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

GBP/USD Technical Analysis For 27th August 2015, H4

27 August 2015, GBP/USD

Technical View
GBP/USD is currently trading with a bearish Bias. The pair successfully crossed a key level 1.5665, and even crossed and closed below the two trendline. The current wave in a corrective move upwards back to the now resistance trendline. As long as the pair trades below this level, short positions are recommended but with a stop at 1.5419, and the second stop at 1.5300. This downward movement is likely to continue as long as EUR/USD is trading below 1.1384, and US dollar index is trading above 94.95. The latter is highly negatively correlated with GBP/USD, but is strongly positively correlated with EUR/USD.

Trade Recommendations

As long as the pair trades below the Resistance trendline, short positions are recommended. However, should price close above this Resistance trendline, long positions are recommended, but with a stop at the next Resistance trendline.

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

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .