GBPUSD Technical Analysis For 3rd November 2015 | 03 نوفمبر 2015
03 نوفمبر 2015, GBP/USD
Technical View:
GBPUSD is currently trading with a bearish bias. During the previous intraday, the market opened at 1.5453, and ended up closing at 1.5416. Following this gap on the daily chart, we expect further downward movement for the intraday traders. This downward movement is highly anticipated since other positively correlated pairs such as EUR/USD and GBP/HKD giving sell signal. We will therefore sell this pair but with stops at 1.5346. and the next stop at 1.5296.
Trade recommendations:
Remain short in this pair as long as the other positively correlated pairs are giving sell signal. Sell positions should be accompanied by TPs at 1.5346. and the next stop at 1.5296.
Support Levels: S3: 1.54 S2: 1.5405 S1: 1.5413 Pivot: PP: 1.5424 Resistance levels: R1: 1.5427 R2: 1.5432 R3: 1.544
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
