On Friday Pound/Dollar traded within narrow 50 pip range. The Cable depreciated from 1.5658 to 1.5606 on Friday, in converse with the neutral money flow sentiment at over +14%, closing the week at 1.5617. Today the British Pound trading quietly, with movements at the lower end of Friday's range for now.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart quotes are moving within wide trading scope. First resistance is Friday's peak at 1.5658. Break above it should extend the bullish movement further towards 1.5776. The nearest support level is Friday's bottom at 1.5606. Going below it should extend British Pound's reduction further down towards next downward objective 1.5380.
There are no major economic events for UK today.
Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5658 1.5776 1.5910
Technical support levels: 1.5606 1.5380 1.5247
Already made +18 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5626 SL 1.5652 TP 1.5566, exit sent at 7:42 GMT+1.
Today so far +68, on Friday +127, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">