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GBP/USD Technical Analysis For 18Th September 2015, H1

GBP/USD Technical Analysis For 18Th September 2015, H1 | 18 September 2015

18 September 2015, GBP/USD

Technical View:
GBP/USD is currently trading with a bullish bias. as long as the pair trades below the upper trend line, long positions are ideal, but only up to the trend line. Any movements above it will signal further movements to the upper side. Basically, wave (c) is expected to rally upwards only up to the upper trend line. Traders trading GBP should also observe other pairs such as EUR/USD, EUR/GBP, EUR/CAD, and CHF/HKD. These pairs had a strong positive correlation of unto +0.90, they are thus expected to move in the same direction even during this intraday.

Trade Recommendation:

Wait and buy above the resistance trend line. In case of a clear bounce, sell at the same support trendline.

Bob Stan
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