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GBPUSD Technical Analysis For 11th November 2015

GBPUSD Technical Analysis For 11th November 2015 | 11 November 2015

11 November 2015, GBP/USD

GBPUSD Technical Analysis For 11th November 2015
Technical View:
GBPUSD is currently trading with a bullish bias. The pair went long and even crossed above a key resistive level 1.5156, and is currently trading above it. We expect the current upward movement to be short lived probably up to 1.5185. This view is supported by the fact that another positively correlated pair GBP/HKD is bouncing off from a major resistant level 11.75, we thus expect downward movements in both pairs however, should the price close above 1.5217, then we will consider going long in both pairs.

Trade Recommendations:

Sell from 1.5185, but with stop loss at 1.5217, any movement above this level will signal further movements to the upper side.

Bob Stan
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