Open 1.5663
High 1.5696
Low 1.5627
Close 1.5662
On Tuesda GBP/USD increased with 70 pips. The Cable appreciated from 1.5627 to 1.5696 yesterday, in line with the positive money flow sentiment at around +16%, closing the day at 1.5662. Today the British pound is trading quietly, with movements within yesterday's range.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart quotes are still holding within a wide trading scope. The first resistance is yesterday's peak at 1.5696. A break above it should extend the bullish movement further towards 1.5820. The nearest support level is yesterday's bottom at 1.5627. Going below it should extend the pound's reduction further down towards next downward objective 1.5500.
Today are UK Public sector net borrowing and CBI industrial survey, at 8:30 and 10:00 GMT respectively.
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 neutral and calm, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5696 1.5820 1.5953
Technical support levels: 1.5627 1.5500 1.5367
+10 pips profit/loss today on the GBP/USD sent the following signal:
5:15 GMT+1 Buy GBP/USD at 1.5665, Sell at 1.5639 TP 1.5725, exit sent at 7:35 GMT+1.
Today so far +36, yesterday +198.
GBP/USD Chart" title="GBP/USD Chart">