GBP/USD Open 1.4926 High 1.5097 Low 1.4891 Close 1.4925
On Wednesday Pound/Dollar decreased significantly with 205 pips. The Cable depreciated from 1.5097 to 1.4891 yesterday, in line with the negative money flow sentiment at around -21%, closing the day at 1.4925. Today the British Pound is trading quietly, with movements within yesterday's range for the time being.
On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the downward channel has also renewed. First resistance is yesterday's peak at 1.5097. Break above it should extend the bullish movement further towards 1.5220. The nearest support level is yesterday's bottom at 1.4891. Going below it should extend British Pound's reduction further down towards next downward objective 1.4770.
Quotes are moving just above the 20 and below the 50 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: 1.5097 1.5220 1.5354
Technical support levels: 1.4891 1.4770 1.4636
Already gained +7 pips on GBP/USD today from the following signal:
6:31 GMT Down GBP/USD at 1.4958 Limit 1.4984 Target 1.4898, exit given at 6:36 GMT.
Today so far +28, yesterday +187, as shown at the website.