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GBPUSD Technical Analysis For 5th November 2015

GBPUSD Technical Analysis For 5th November 2015 | 05 November 2015

05 November 2015, GBP/USD

GBPUSD Technical Analysis For 5th November 2015
Technical View:
GBP/USD is currently trading with a bearish bias. The pair went short from 1.54218, and is currently on a downward movement. We expect a minor corrective upward movements from the level 1.53669, before we continue short. Although we anticipate further downward movements, we will only sell this pair if the other positively correlated pair GBP/HKD closes below 11.9017. Any movements below 11.8850 in the GBP/HKD will signal further movements towards the lowe side in GBP/USD.
GBPUSD Technical Analysis For 5th November 2015

Trade Recommendations:

We are waiting for a minor pull back of up to 1.5406 before we go short in both pairs, we will have TPs in GBP/USD at 1.053054, and the next stop at 1.5238.

Bob Stan
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