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GBPUSD Technical Analysis For 10th November 2015

GBPUSD Technical Analysis For 10th November 2015 | 10 November 2015

10 November 2015, GBP/USD

GBPUSD Technical Analysis For 10th November 2015
Technical View:
GBP/USD is currently trading with a bearish bias. The pair made a corrective move upwards but could not close above 1.5123, which is now a key resistant level. We expect a continuation of the previous downward movement from this level since other positively correlated pair such as GBP/HKD, is bouncing off from a key resistant level 11.71 and is headed pretty much to the bears direction.

Trade Recommendations:

Remain short in both pairs, as long as Pound trades below 1.5123, any clear movements above 1.5184 will call for long trade execution. Sell positions should be accompanied by stops losses just above 1.5156.

Bob Stan
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