GBP/USD Open 1.5602 High 1.5629 Low 1.5438 Close 1.5601
On Monday pound/dollar increased with almost 100 pips. The cable appreciated from 1.5531 to 1.5629 yesterday, in line with the positive money flow sentiment at around +5%, closing the day at 1.5601. Today the British pound sank, dropping down to 1.5438.
On the 1 hour chart quotes are back into the trading range, while on the 3 hour chart the upward channel is on hold. First resistance is yesterday's peak at 1.5629. Break above it should extend the bullish movement further towards the 1.5750. The nearest support level is today's bottom at 1.5438. Going below it should extend British Pound's reduction further down towards next downward objective 1.5310.
Quotes are moving way below the spreading 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.5629 1.5750 1.5884
Technical support levels: 1.5438 1.5310 1.5177
Today +60 pips gained on GBP/USD from the following signal:
5:30 GMT+1 Down GBP/USD at 1.5596 Limit 1.5622 Target 1.5536, Target reached at 9:11 GMT+1.
Today so far +190, total yesterday +76, as shown at our website. Have a great day!
