GBP/USD Open 1.4269 High 1.4216 Low 1.4130 Close 1.4272
On Monday pound/dollar increased significantly with 160 pips. The cable appreciated from 1.4130 to 1.4291 yesterday, in line with the positive money flow sentiment at almost +7%, closing the day at 1.4272. Today the British pound lifted slightly further, reaching 1.4216.
On the 1-hour chart wide range trading has formed, while on the 3-hour chart the downward channel has turned into scope trading. First resistance is today's peak at 1.4216. Break above it should extend the bullish movement further towards the 1.4330. The nearest support level is yesterday's bottom at 1.4130. Going below it should extend British pound's reduction further down towards next downward objective 1.4014.
Quotes are moving above the widened 20 and 50 EMA on the 1-hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1-hour chart, giving over all long signals.
Technical resistance levels: 1.4216 1.4330 1.4456
Technical support levels: 1.4130 1.4014 1.3890
Yesterday +38 pips gained on GBP/USD from the following signal:
5:30 GMT+1 Sell GBP/USD at 1.4168 SL 1.4194 TP 1.4108, exit given at 7:49 GMT+1.
Total yesterday +77, as shown at our web site.
Have a great day!
