GBPUSD Technical Analysis For 21st October 2015 | 21 October 2015

21 October 2015, GBP/USD

Technical View:

GBP/USD is currently trading with a bearish bias. The pair bounced off from a major pivot line 1.5497, and is headed short as previously forecasted. Traders are advised to hold on to short positions as long as the pair trades below 1.5507. Sell positions should be accompanied with TP levels at 1.5938, and 1.5333. Pairs such as NZD/CAD and NZD/JPY are expected to move in a similar direction to pound, thus, only buy or sell pounds if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

If you haven't sold the pair already, wait and sell below 1.5413 with stops at 1.5938, and the next stop at 1.5333.

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.