GBP/USD Open 1.4815 High 1.4954 Low 1.4801 Close 1.4803
On Tuesday pound/dollar continued decreasing with 120 pips. The cable depreciated from 1.4921 to 1.4801 yesterday, in line with the negative money flow sentiment at almost -15%, closing the day at 1.4803. Today the British pound recovered and climbed further up, reaching 1.4954.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart the downward channel is still on hold. First resistance is today's peak at 1.4954. Break above it should extend the bullish movement further towards the 1.5078. The nearest support level is yesterday's bottom at 1.4801. Going below it should extend British pound's reduction further down towards next downward objective 1.4680.
Quotes are moving way above the touching 20 and 50 EMA on the 1 hour chart, indicating strong bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is thinly 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: 1.4954 1.5078 1.5210
Technical support levels: 1.4801 1.4680 1.4545
Already gained +60 pips on GBP/USD today from the following signal:
7:56 GMT+1 Up GBP/USD at 1.4862 Limit 1.4836 Target 1.4922, Target reached at 10:22 GMT+1.
Today so far +108, yesterday +210, as shown at the website.