26 August 2016, GBP/USD
GBP/USD is currently trading with a declining upward momentum. As previously forecasted, the pair traded perfectly short but is currently retracing to the upper side. We expect a possible rebound from the level 1.3205 to continue short with an ideal target at 1.3134. Ideally, during this intraday, we expect this pair to trade on the lower ranges but should not close below 1.3134. This pair should be traded alongside GBP/JPY, GBP/CAD, GBP/NZD and GBP/HKD. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.
Expect a rebound around 1.3210 to go short with an ideal target at 1.3134.
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