GBP/USD
Open 1.6327
High 1.6346
Low 1.6255
Close 1.6320
On Tuesday the GBP/USD increased with 90 pips. The Cable appreciated from 1.6255 to 1.6346 yesterday, in converse with the negative money flow sentiment at below -9%, closing the day at 1.6320. Today the British pound is trading quietly, with movements within yesterday's range for the time being.
On the 1 hour chart quotes are about to break down of the trading range, while on the 3 hour chart the upward channel has turned into scope trading. First resistance is yesterday's peak at 1.6346. Break above it should extend the bullish movement further towards 1.6567. The nearest support level is yesterday's bottom at 1.6255. Going below it should extend British pound's reduction further down towards next downward objective 1.6130.
Today is UK PMI at 9:28 GMT.
Quotes are moving just below the 20 and 50 the EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and hesitant, the MACD is negative and tranquil, while the CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.6346 1.6567 1.6700
Technical support levels: 1.6255 1.6130 1.6000
Already made +29 pips profit/loss on the GBP/USD today from the following sent to clients only signal:
5:15 GMT Sell GBP/USD at 1.6335 SL 1.6361 TP 1.6275, exit sent at 7:36 GMT.
Today so far +71, yesterday +138.
GBP/USD Hour Chart" title="GBP/USD Hour Chart" width="452" height="381">