GBP/USD Technical Analysis For 12th October 2015 | 12 Octubre 2015
12 Octubre 2015, GBP/USD
Technical View:
GBP/USD is currently trading with a bearish bias. The pair crossed below a significant pivot level 1.5336 and is currently trdaing below it. As long as the pair trades below this level, short positions will be ideal for trading but with stops at 1.5279, and the next stop at 1.5229. this pair is strongly positively correlated to AUD/CAD and GBP/JPY, thus they are expected to move in the same direction.
Trade recommendations.
As long as the pair trades below 1.5336, short positions are ideal for trading with stops at 1.5279, and the next stop at 1.5229. In an alternative scenario, should the price move upwards and end up closing above 1.5381, then long positions will be ideal for trading but with stops at 1.5453, and the next stop at 1.5499.
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.
