GBP/USD Open 1.6610 High 1.6651 Low 1.6554 Close 1.6604
On Monday Pound/Dollar increased with 65 pips. The Cable appreciated from 1.6585 to 1.6651 yesterday, in line with the positive money flow sentiment at nearly +11%, closing the day at 1.6604. Today the British Pound declined, reaching down to 1.6554.
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 1.6651. Break above it should extend the bullish movement further towards 1.6775. The nearest support level is today's bottom at 1.6554. Going below it should extend British Pound's reduction further down towards next downward objective 1.6430.
Quotes are moving way below the crossing and almost even 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6651 1.6775 1.6910
Technical support levels: 1.6554 1.6430 1.6300
Already made +29 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.6582 SL 1.6608 TP 1.6522, exit sent at 8:04 GMT+1.
Today so far +42, yesterday +46, as shown at our web site.