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GBPUSD Technical Analysis For 22nd October 2015

GBPUSD Technical Analysis For 22nd October 2015 | 22 October 2015

22 October 2015, GBP/USD

GBPUSD Technical Analysis For 22nd October 2015

Technical View:

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.
Trade Recommendations:
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.
Bob Stan
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