GBP/USD Technical Analysis For 28th August 2015, H4 | 28 August 2015

28 August 2015, GBP/USD

Technical View:
GBP/USD is currently trading with a bullish bias. The pair crossed below our support trend line and is currently trading below the 23.6% fib level. It is anticipated that the current corrective wave will rally upwards only up to the 23.6% fib level. Traders willing to sell at this fib level should ensure that, at the same time the pair is trading at this level, the US dollar index is showing a clear sell signal around 96.13. The two are highly negatively correlated and are expected to move opposite one another. However, should the price move upwards and close above the 23.6% fib level, and also above the now resistance trend line, long positions are recommended.
Trade Recommendations:

As long as the pair trades below the 23.6% fib level, short positions are recommended but with a stop at 0.0% fib level, or the support level 1.5369. Any clear movements below this level will signal further movements below.

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus