GBP/USD Technical Analysis For 9th October 2015 | 09 October 2015

09 October 2015, GBP/USD

Technical View:

GBP/USD is currently trading with a bullish Bias. Instead of heading short from 1.5346, the pair crossed and closed above it and is currently trading above it. As long as the pair trades above the key pivot level 1.5346, the pair is expected to trade on the higher ranges. The long positions will highly be recommended when the pair crosses and closes above 1.5373. This pair is highly positively correlated to GBP/JPY and and slightly with EUR/USD. Thus, only buy or sell the pair if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

As long as the pair trades above 1.5346, pound is expected to trade on the higher ranges. If you haven't bought the pair already wait and buy above 1.5373, with stops at 1.5426, and the next stop at 1.5499. Basically, wave (b) has should end at 1.5373.

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.

Anjara

Facebook

Twitter

Bob Stan

FreshForex is a brand with a 20-year history, providing access to online trading for clients from 158 countries worldwide.
The company’s services are intended for adult users. If the use of these services violates local laws, you must immediately leave the website. The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage involves significant risks and may result in both profits and losses. Potential losses are limited to the amount of funds deposited. Before deciding to trade, clients should assess their risk tolerance, experience level, and knowledge.
We use cookies to improve your experience on our website.