GBP/USD Open 1.6827 High 1.6884 Low 1.6817 Close 1.6821
On Tuesday Pound/Dollar decreased with 65 pips. The Cable depreciated from 1.6884 to 1.6817 yesterday, in line with the negative money flow sentiment at below -12%, closing the day at 1.6821. Today the British Pound is trading quietly, with movements within yesterday's range for the time being.
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 1.6884. Break above it should extend the bullish movement further towards 1.7010. The nearest support level is yesterday's bottom at 1.6817. Going below it should extend British Pound's reduction further down towards next downward objective 1.6695.
Today is BoE Inflation report at 10:30 GMT.
Quotes are moving just above the 20 and 50 the EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6884 1.7010 1.7143
Technical support levels: 1.6817 1.6695 1.6560
Already made +7 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.6855 SL 1.6881 TP 1.6795, exit sent at 7:00 GMT+1.
Today so far +25, yesterday +129, as shown at our web site.