GBP/USD
Open 1.6425
High 1.6453
Low 1.6394
Close 1.6423
On Monday the GBP/USD increased with 60 pips. The Cable appreciated from 1.6394 to 1.6453 yesterday, in line with the positive money flow sentiment at over +8%, closing the day at 1.6423. Today the British pound is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is still on hold. First resistance is yesterday's peak at 1.6453. Break above it should extend the bullish movement further towards 1.6575. The nearest support level is yesterday's bottom at 1.6394. Going below it should extend British pound's reduction further down towards next downward objective 1.6270.
Today is UK CBI industrial trends survey, at 11 GMT.
Quotes are moving just below the widened 20 and 50 the EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6453 1.6575 1.6710
Technical support levels: 1.6394 1.6270 1.6137
Already made +23 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT Sell GBP/USD at 1.6427 SL 1.6453 TP 1.6367, exit sent at 8:05 GMT.
Today so far +71, yesterday +56.GBP/USD Hour Chart" title="GBP/USD Hour Chart" width="451" height="381">