GBP/USD – Volume Supply & Demand Nov 4, 2014

Our analysis indicated that the GBP/USD is headed for a pop upward as we have seen a lack of supply and strong demand at current levels.

As indicated in the chart below, there has been little sellers at current levels and therefore price has gone up as the banks and institutions tried to get in some orders at what they consider a good price at around 1.5990. As such we would initiate a buy at the current levels up to approx 1.6050.

GBPUSD