GBP/USD Open 1.6573 High 1.6606 Low 1.6535 Close 1.6574
On Wednesday GBP/USD increased with 70 pips. The Cable depreciated from 1.6535 to 1.6606 yesterday, in line with the positive money flow sentiment at over +7%, closing the day at 1.6574. Today the pound is trading quietly, with movements at the upper end of yesterday's range for the time being.
On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart the downward channel looks good. First resistance is yesterday's peak at 1.6606. Break above it should extend the bullish movement further towards 1.6730. The nearest support level is yesterday's bottom at 1.6535. Going below it should extend pound's reduction further down towards next downward objective 1.6410.
Quotes are moving just above the 20 and 50 the EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.6606 1.6730 1.6864
Technical support levels: 1.6535 1.6410 1.6277
Already made +6 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6597 SL 1.6571 TP 1.6657, exit sent at 6:26 GMT+1.
Today so far +24 pips, yesterday +46 pips.