GBP/USD Open 1.5525 High 1.5553 Low 1.5451 Close 1.5522
On Wednesday pound/dollar increased with 90 pips. The cable appreciated from 1.5451 to 1.5539 yesterday, in line with the positive money flow sentiment at above +18%, closing the day at 1.5522. Today the British pound climbed even further, reaching 1.5553.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the downward channel has turned into range trading. First resistance is today's peak at 1.5553. Break above it should extend the bullish movement further towards 1.5676. The nearest support level is yesterday's bottom at 1.5451. Going below it should extend British Pound's reduction further down towards next downward objective 1.5330.
Quotes are moving just above the widened 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.5553 1.5676 1.5810
Technical support levels: 1.5451 1.5330 1.5200
Already gained +2 pips on GBP/USD today from the following signal:
5:30 GMT Up GBP/USD at 1.5545 Limit 1.5519 Target 1.5605, exit given at 5:31 GMT.
Today so far +63, yesterday +92, as shown at website.