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GBPUSD Technical Analysis For 9th November 2015

GBPUSD Technical Analysis For 9th November 2015 | 09 November 2015

09 November 2015, GBP/USD

GBPUSD Technical Analysis For 9th November 2015
Technical View:
GBP/USD is currently trading with a bearish bias. Following the NFP outcome, the pair crossed below the wedge and is currently trading below it. We expect further downward movements probably up to 1.4591. This downward movement is highly anticipated since GBP/HKD a positively correlated pair is already trading below a very significant key support level 11.71, we thus expect the same downward movement to continue in Pound.

Trade Recommendations:

Remain short in GBP/USD as long as GBP/HKD trades below 11.71. Sell positions in GBP/USD should have stop loss at above 1.5123

Bob Stan
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