15 September 2015, GBP/USD
GBP/USD is currently trading with a slight bearish Bias. the pair bounced of from our key level 1.5415 and is currently trading below it. As long as the pair trades below this level, short positions are ideal for trading. Generally wave(c) is expected to rally downwards and close the support trendline.
Traders trading this pair should observe other pairs such as GBP/JPY, GBP/CAD, GBP/HKD, EUR/HKD and EUR/CAD for positive correlation of up to +0.95. Only buy/ sell GBP if more than a half of these pairs are giving a similar signal.
As long as the pair trades below 1.5415, short positions are recommended but only up-to the support trend line, any movements below this level will signal further movements below.