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GBP/USD Technical Analysis For 2nd October 2015, H4

GBP/USD Technical Analysis For 2nd October 2015, H4 | 02 October 2015

02 October 2015, GBP/USD

Technical View:
GBP/USD is currently trading with a bearish bias. The pair crossed and closed below a key pivot level 1.5328 and is currently trading below it as we forecasted previously. We anticipate that, as long as the pair trades below this pivot level, GBP will likley trade on the lower ranges for the better parts of this intraday. Any clear movements below the immediate support trend line will signal further movements to the lower side. This pair is Strong;y positively correlated to GBP/HKD, and GBP/JPY, thus we expect sell positions even on the other positively correlated pairs. Generally, wave((c)) should close along the support trendline or even below it.
Trade Recommendations:

If you haven't sold the pair already, sell below the support trend line, or wait for wave ((c)) to retrace upwards and sell along the key pivot level.

Bob Stan
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