GBP/USD
Open 1.6461
High 1.6506
Low 1.6439
Close 1.6459
On Wednesday the GBP/USD decreased with 65 pips. The Cable depreciated from 1.6506 to 1.6439 yesterday, in line with the negative money flow sentiment at nearly -15%, closing the day at 1.6467. Today the British pound is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart the downward channel has renewed, while on the 3 hour chart the downward channel looks good. First resistance is yesterday's peak at 1.6506. Break above it should extend the bullish movement further towards 1.6630. The nearest support level is yesterday's bottom at 1.6439. Going below it should extend British pound's reduction further down towards next downward objective 1.6315.
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 hesitant, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.6506 1.6630 1.6764
Technical support levels: 1.6439 1.6315 1.6180
Already made +14 pips profit/loss on GBP/USD today from the following signal:
5:15 GMT+1 Sell GBP/USD at 1.6460 SL 1.6486 TP 1.6400, exit given at 7:52 GMT+1.
Today so far +58, yesterday +54 pips