Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Cable Remains Firm As Greek Storm Brews

Published 06/16/2015, 08:09 AM
Updated 07/09/2023, 06:32 AM

GBP/USD Open 1.5597 High 1.5642 Low 1.5486 Close 1.5598

On Monday, pound/dollar increased with 130 pips. The cable appreciated from 1.5486 to 1.5615 yesterday, in line with the positive money flow sentiment at over +12%, closing the day at 1.5598. Today, the British pound ascended further, climbing to 1.5642.

On the 1 hour chart, range trading has formed, while on the 3 hour chart, the upward channel is making renewal attempts. First resistance is yesterday's peak at 1.5642. Break above it should extend the bullish movement further towards the 1.5765. The nearest support level is today's bottom at 1.5486. Going below it should extend British pound's reduction further down towards next downward objective 1.5364.

Quotes are moving above the parallel 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.5642 1.5765 1.5900
Technical support levels: 1.5486 1.5364 1.5230

Today +24 pips gained on EUR/USD from the following signal:
5:30 GMT+1 Up GBP/USD at 1.5609 Limit 1.5583 Target 1.5669, exit given at 8:10 GMT+1.
Today so far +122, total yesterday +121, as shown at the website. Have a great day!


GBP/USD Hourly Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.