GBP/USD
Open 1.6766
High 1.6877
Low 1.6742
Close 1.6765
On Wednesday the GBP/USD decreased significantly with 125 pips. The Cable depreciated from 1.6877 to 1.6752 yesterday, in line with the negative money flow sentiment at around -18%, closing the day at 1.6765. Today the British pound continued weakening, dropping to 1.6742.
On the 1 hour chart the upward channel is vanishing, while on the 3 hour chart the upward channel is on hold. First resistance is yesterday's peak at 1.6877. Break above it should extend the bullish movement further towards 1.7000. The nearest support level is today's bottom at 1.6742. Going below it should extend British pound's reduction further down towards next downward objective 1.6620.
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 calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6877 1.7000 1.7134
Technical support levels: 1.6742 1.6620 1.6488
Already made +34 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.6777 SL 1.6803 TP 1.6717, exit sent at 8:10 GMT+1.
Today so far +99, yesterday +117, as shown at our web site.