GBP/USD Open 1.4125 High 1.4145 Low 1.4042 Close 1.4120
On Friday pound/pollar increased with almost 100 pips. The cable appreciated from 1.4042 to 1.4138 on Friday, in line with the positive money flow sentiment at around +4%, closing the day at 1.4120. Today the British pound lifted slightly further, reaching 1.4145.
On the 1-hour chart wide range trading has formed, while on the 3-hour chart the downward channel is still on hold. First resistance is today's peak at 1.4145. Break above it should extend the bullish movement further towards the 1.4258. The nearest support level is Friday's bottom at 1.4042. Going below it should extend British pound's reduction further down towards next downward objective 1.3929.
Quotes are moving above the crossing 20 and 50 EMA on the 1-hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1-hour chart, giving over all light long signals.
Technical resistance levels: 1.4145 1.4258 1.4380
Technical support levels: 1.4042 1.3929 1.3800
On Friday +11 pips gained on GBP/USD from the following signal:
5:30 GMT+1 Buy GBP/USD at 1.4069 SL 1.4043 TP 1.4129, exit given at 7:14 GMT+1.
Total on Friday +70, as shown at our web site.
Have a great day!
