On Tuesday Pound/Dollar decreased with 100 pips. The Cable depreciated from 1.5239 to 1.5135 yesterday, in line with the negative money flow sentiment at under -21%, closing the day at 1.5150. Today the British Pound weakened further, dropping to 1.5129.
On the 1 hour chart the downward channel has resumed, while on the 3 hour chart quotes are moving within wide trading scope. First resistance is yesterday's peak at 1.5239. Break above it should extend the bullish movement further towards 1.5362. The nearest support level is today's bottom at 1.5129. Going below it should extend British Pound's reduction further down towards next downward objective 1.5005.
Today is UK PMI services at 8:30 GMT.
Quotes are moving below the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.5239 1.5362 1.5500
Technical support levels: 1.5129 1.5005 1.4870
Already made +19 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5148 SL 1.5174 TP 1.5088, exit sent at 8:02 GMT+1.
Today so far +67, yesterday +100, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">