GBP/USD Open 1.4332 High 1.4410 Low 1.4319 Close 1.4328
On Wednesday pound/dollar decreased with 80 pips. The cable depreciated from 1.4410 to 1.4327 yesterday, in converse with the positive money flow sentiment at around +3%, closing the day at 1.4328. Today the British pound dropped slightly further, reaching 1.4319.
On the 1-hour chart wide range trading has formed, while on the 3-hour chart the downward channel has turned into scope trading. First resistance is yesterday's peak at 1.4410. Break above it should extend the bullish movement further towards the 1.4527. The nearest support level is today's bottom at 1.4319. Going below it should extend British pound's reduction further down towards next downward objective 1.4200.
Quotes are moving just below the closing 20 and 50 EMA on the 1-hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is positive and tranquil, while CCI has thinly crossed down the 100 line on the 1-hour chart, giving over all light short signals.
Technical resistance levels: 1.4410 1.4527 1.4650
Technical support levels: 1.4319 1.4200 1.4074
Yesterday +36 pips gained on GBP/USD from the following signal:
5:30 GMT+1 Buy GBP/USD at 1.4371 SL 1.4345 TP 1.4431, exit given at 10:44 GMT+1.
Total yesterday +105, as shown at our web site.
Have a great day!