GBPUSD Technical Analysis For 27th November 2015
27 November 2015, GBP/USD
GBP/USD is currently trading with a slight bearish bias. Pound failed to close within the triangle, instead it bounced off from the lower green trend line and is currently heading short. A break below 1.5065 will mean further downward movements probably up to below 1.5027. In an alternative case scenario, should the price close above the green trend line, then we expect a continuation of the triangular formation. Also, we have the intraday stochastic
trading along its neutrality level 50, meaning either case is possible. This pair is strongly positively correlated to EUR/USD, GBP/HKD, and EUR/CAD. Thus, only buy or sell Pounds if all the other positively correlated pairs are giving the same signal.
Go short from 1.5066, with SL at 1.51105
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us