GBP/USD Open 1.6248 High 1.6359 Low 1.6243 Close 1.6269
On Wednesday GBP/USD decreased with 115 pips. The Cable depreciated from 1.6359 to 1.6243 yesterday, in line with the negative money flow sentiment at below -15%, closing the day at 1.6269. Today the British pound is trading quietly, with movements at the lower half of yesterday's range for the time being.
On the 1 hour chart the downward channel is still on hold, while on the 3 hour chart the downward channel has slowed down. First resistance is yesterday's peak at 1.6359. Break above it should extend the bullish movement further towards 1.6480. The nearest support level is yesterday's bottom at 1.6243. Going below it should extend British pound's reduction further down towards next downward objective 1.6120.
Quotes are moving just above the close 20 and 50 the EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and hesitant, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6359 1.6480 1.6615
Technical support levels: 1.6243 1.6120 1.5988
Already made +34 pips profit/loss on GBP/USD today from the following signal:
6:31 GMT+1 Buy GBP/USD at 1.6291 SL 1.6266 TP 1.6351, exit given at 6:39 GMT+1.
Today so far +84, yesterday +107 pips