Open 1.6357
High 1.6444
Low 1.6341
Close 1.6351
On Monday the GBP/USD decreased with 100 pips. The Cable depreciated from 1.6444 to 1.6341 yesterday, in line with the negative money flow sentiment at almost -15%, closing the day at 1.6351. Today the British pound is trading quietly, with movements at the lower end of yesterday's range for the time being.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour the upward channel has renewed. First resistance is yesterday's peak at 1.6444. Break above it should extend the bullish movement further towards 1.6568. The nearest support level is yesterday's bottom at 1.6341. Going below it should extend British pound's reduction further down towards next downward objective 1.6220.
Today is UK PMI Construction at 9:30 GMT.
Quotes are moving just above the close 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 positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.6444 1.6568 1.6700
Technical support levels: 1.6341 1.6220 1.6088
Already made +2 pips profit/loss on GBP/USD today from the following sent to clients only signal:
8:08 GMT Buy GBP/USD at 1.6389 SL 1.6363 TP 1.6449, exit sent at 8:08 GMT.
Today so far +20, yesterday +97.
GBP/USD Hour Chart" title="GBP/USD Hour Chart" width="640" height="540">