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GBP/USD Technical Analysis For 1st October 2015, H4

GBP/USD Technical Analysis For 1st October 2015, H4 | 01 October 2015

01 October 2015, GBP/USD

GBP/USD Technical Analysis For 1st October 2015, H4
Technical View:
GBP/USD is currently trading with bearish bias. The pair crossed and closed below a key pivot level 1.5142 and is currently trading below it. It is anticipated that as long as the pair trades below this level, GBP is expected to trade in the lower ranges for a better part of this intraday, otherwise, should it close above 1.5142, then long positions will be ideal for trading. Traders trading this pair should observe other pair such as GBP/HKD, and GBP/JPY for positive correlation.

Trade Recommendations:

If you haven't sold the pair already, wait and sell on a clear bounce from 1.5142, sell with stops at1.5045, and the next stop at 1.48029. Buy can only be executed above 1.5328

Bob Stan
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