GBP/USD Open 1.6206 High 1.6231 Low 1.6050 Close 1.6204
On Wednesday GBP/USD increased significantly with 180 pips. The Cable appreciated from 1.6050 to 1.6231 yesterday, in converse with the negative money flow sentiment at around -11%, closing the day at 1.6204. Today the British pound is trading quietly, with movements at the upper end of yesterday's range for the time being.
On the 1 hour chart the downward channel is on hold, while on the 3 hour chart the downward channel has slowed down. First resistance is yesterday's peak at 1.6231. Break above it should extend the bullish movement further towards 1.6355. The nearest support level is yesterday's bottom at 1.6050. Going below it should extend British Pound's reduction further down towards next downward objective 1.5926.
Quotes are moving above the crossing and close 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6231 1.6355 1.6490
Technical support levels: 1.6050 1.5926 1.5790
Already made +11 pips profit/loss on GBP/USD today from the following signal:
5:15 GMT+1 Sell GBP/USD at 1.6203 SL 1.6229 TP 1.6143, exit given at 5:42 GMT+1.
Today so far +67, yesterday +17 pips