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GBPUSD Technical Analysis For 25th November 2015

GBPUSD Technical Analysis For 25th November 2015 | 25 November 2015

25 November 2015, GBP/USD

GBPUSD Technical Analysis For 25th November 2015
Technical View:
GBPUSD is currently trading with a slight bullish bias. The pair crossed below a daily support 1.51156, and the red trend line. We expect a corrective upward rally towards the red trend line before we continue short. Any clear movements above this trend line, will signal further movements towards the upper side. This pair is highly positively correlated to other pairs such as GBP/JPY, GBP/CAD, EUR/JPY and EUR/AUD. Therefore, only buy or sell the pair if all the other positively correlated pairs are giving the same signal.

Trade Recommendation.

Wait and sell from 1.51156, or the support trend line with SL at 1.5153

Bob Stan
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