GBP/USD Open 1.7033 High 1.7099 Low 1.7023 Close 1.7036
On Wednesday Pound/Dollar decreased with 40 pips. The Cable depreciated from 1.7099 to 1.7023 yesterday, in line with the negative money flow sentiment at under -17%, closing the day at 1.7036. Today the British Pound is trading quietly, with movements at the lower end of yesterday's range for the time being.
On the 1 hour chart the upward channel is turning into range trading, while on the 3 hour chart the upward channel is on hold. First resistance is yesterday's peak at 1.7099. Break above it should extend the bullish movement further towards 1.7220. The nearest support level is yesterday's bottom at 1.7023. Going below it should extend British Pound's reduction further down towards next downward objective 1.6900.
Quotes are moving just above the 20 and below the 50 the EMA on the 1 hour chart, indicating short term slim bullish 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: 1.7099 1.7220 1.7355
Technical support levels: 1.7023 1.6900 1.6765
Already made +13 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.7034 SL 1.7060 TP 1.6974, exit sent at 7:01 GMT+1.
Today so far +50, yesterday +98, as shown at our web site.