GBP/USD Open 1.5356 High 1.5435 Low 1.5350 Close 1.5362
On Monday GBP/USD decreased with 85 pips. The Cable depreciated from 1.5435 to 1.5350 yesterday, in line with the negative money flow sentiment at under -12%, closing the day at 1.5362. Today the British Pound climbed is trading quietly, with movements at the lower half of yesterday's range for the time being.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the downward channel has turned into range trading. First resistance is yesterday's peak at 1.5435. Break above it should extend the bullish movement further towards 1.5560. The nearest support level is yesterday's bottom at 1.5350. Going below it should extend British Pound's reduction further down towards next downward objective 1.5226.
Quotes are moving in line with 20 and below the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and hesitant, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5435 1.5560 1.5693
Technical support levels: 1.5350 1.5226 1.5090
Already gained +13 pips on GBP/USD today from the following signal:
5:30 GMT Down GBP/USD at 1.5381 Limit 1.5407 Target 1.5321, exit given at 8:15 GMT.
Today so far +86, yesterday +117, as shown at the website.