GBPUSD is currently trading with a bearish bias. The pair bounced off from a significant key resistant level 1.5495 and is currently even trading below another significant level 1.5428, as long as the pair trades below this level, further short positions will be ideal for trading trading, This downward movement is further anticipated since another positively correlated pair, EUR/JPY is strong headed short, We look to buy this pair at 1.5350, when the current downward movement in EUR ends.
As long as the pair trades below, 1.5428, short positions will be ideal for trading but with stops at 1.5386, and the next stop at 1.53177.
Margin Trading in the Forex market contains risks and can cause in significant financial losses. Before deciding to trade in the foreign exchange market, make sure that you understand the risks according to your financial experience and knowledge.