GBPUSD Technical Analysis For 30th October 2015

30 October 2015, GBP/USD

GBPUSD Technical Analysis For 30th October 2015
Technical View:
GBP/USD is currently trading with a bullish bias. The pair bounced off from a very significant key level 1.5244 and is currently trading long. While it is clear we may be headed long, we are waiting for a close above 1.5348 before we can completely go long. In the meantime, we remain long but with TP at 1.5348, we may also look to sell along the same level since other correlated pair such as GBP/HKD is showing a potential reversal downwards. If GBP/JPY crosses above 1.5366, and GBP/HKD above 11.9017, then we will go long on both pairs, these two pairs are strongly positively correlated. Check the daily charts of both pairs.
GBPUSD Technical Analysis For 30th October 2015

Trade Recommendations:

We remain long in the meantime on pound but with stop at 1.5244. Any movements above 1.5366 will signal further movements to the upper side

Graham Osano
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