GBP/USD Technical Analysis For 17Th September 2015, H4
17 September 2015, GBP/USD
GBP/USD is currently trading with a Bullish bias. The pair is currently trading above a key level 1.5441. it is anticipated that, as long as the pair trades above this key level, GBP will likely trade in the higher ranges, but with a stop at the resitance trendline just above it.
Traders trading this pair should observe other positively correlated pairs such as GBP/JPY, GBP/CAD, GBP/HKD, GBP/AUD, AUD/CAD, and AUD/JPY. Therefore, only buy or sell GBP is all the other pairs are giving the same signal, these signals had a strong positive correlation of upto +0.94 with GBP/USD and this positive correlation is expected to continue.
If you haven't bount the pair already, wait and buy above 1.5527, and clear bounce at 1.55134 will signal a reversal of the current trend, thus short positions should be considered
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