Open 1.5897
High 1.5963
Low 1.5865
Close 1.5891
On Monday the GBP/USD continued increasing with almost 100 pips. The Cable appreciated from 1.5865 to 1.5963 yesterday, in line with the positive money flow sentiment at around +24%, closing the day at 1.5891. Today the British pound is trading quietly, with movements at the lower half of yesterday's range for the time being.
On the 1 hour chart the upward channel looks good, while on the 3 hour chart quotes broke up the wide trading range. First resistance is yesterday's peak at 1.5963. A break above it should extend the bullish movement further towards 1.6085. The nearest support level is yesterday's bottom at 1.5865. Going below it should extend pound's reduction further down towards next downward objective 1.5740.
Today are UK Retail prices, PPI Output and Input, all at 8:30 GMT.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, the MACD is positive and tranquil, while the CCI has crossed up the 100 line on the 1 hour chart giving over all light long signals.
Technical resistance levels: 1.5963 1.6085 1.6220
Technical support levels: 1.5865 1.5740 1.5600
Today already made +6 pips profit/loss on GBP/USD today signaling to clients:
5:15 GMT+1 Sell GBP/USD at 1.5895 SL 1.5921 TP 1.5835, exit sent at 5:25 GMT+1.
Today so far +23, yesterday +30, as shown at our web site.
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