Open 1.6138
High 1.6209
Low 1.6060
Close 1.6136
On Monday the GBP/USD decreased with 85 pips. The Cable depreciated from 1.6209 to 1.6123 yesterday, in line with the negative money flow sentiment at nearly -22%, closing the day at 1.6136. Today the British pound continued dropping, reaching 1.6060.
On the 1 hour chart the upward channel turned into range trading, while on the 3 hour the the upward channel is on hold. First resistance is yesterday's peak at 1.6209. Break above it should extend the bullish movement further towards 1.6330. The nearest support level is today's bottom at 1.6060. Going below it should extend British pound's reduction further down towards next downward objective 1.5937.
Today are UK M4 money supply, Consumer credit, and Mortgage applications, all at 9:30 GMT.
Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6209 1.6330 1.6464
Technical support levels: 1.6060 1.5937 1.5800
Already made +15 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT Sell GBP/USD at 1.6102 SL 1.6128 TP 1.6042, exit sent at 8:22 GMT.
Today so far +35, yesterday +73.
GBP/USD Hour Chart" title="GBP/USD Hour Chart" width="640" height="540">