GBP/USD
Open 1.6953
High 1.6988
Low 1.6942
Close 1.6950
On Wednesday the GBP/USDr traded within small almost 40 pip range. The Cable depreciated from 1.6988 to 1.6949 yesterday, in converse with the positive money flow sentiment at around +18%, closing the day at 1.6950. Today the British pound descended further, reaching 1.6942.
On the 1 hour chart the upward channel is intact, while on the 3 hour chart the upward channel looks good. First resistance is yesterday's peak at 1.6988. Break above it should extend the bullish movement further towards 1.7110. The nearest support level is today's bottom at 1.6942. Going below it should extend British pound's reduction further down towards next downward objective 1.6810.
Today are BoE Interest rate decision and Asset purchases, both at 11 GMT.
Quotes are moving just above the closing 20 and 50 the EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.6988 1.7110 1.7244
Technical support levels: 1.6942 1.6810 1.6675
Already made +15 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6952 SL 1.6926 TP 1.7012, exit sent at 7:29 GMT+1.
Today so far +49, yesterday +51.