GBP/USDTechnical Analysis for 13th August 2015 | 13 August 2015
13 August 2015, GBP/USD
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Technical View
The pair is trading above its previous day's resistant. It is anticipated that the price will continue to trade at such a higher range as long as it stays above this resistant level. In that case, long positions are recommended with a stop at 1.5649 and another target at 1.5676. In an alternative case, should the price shift below its resistant, we expect a stop at the support formed by the trend line. A break below this support will signal further movements lower to 1.55590.
Trade Recommendations:
As long as the pair trades above this resistant long positions are recommended with a stop at 1.5652 and 1.5649. Traders willing to sell this pair should wait for a clear break out below the support trend line.
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.
