Overview:
- According to the previous events, the price of the GBP/USD pair is rising above the weekly pivot point. Subsequently, the ascending movement will probably be higher than the 1.5279 level. As it is known, history will probably repeat itself at this level again. Therefore, it will be a good decision to buy above the weekly pivot point (1.5279) with the first target at 1.5383 (the double top). It will call for an uptrend to continue with its bearish movement towards the price of 1.5421, which represents the weekly support 1. Stop loss should be always taken into account. Stop loss should never exceed your maximum exposure amounts. Consequently, stop loss should be placed above the resistance level at the price of 1.5250.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/USD for October 14, 2015 . Thanks for your support.
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