Open 1.6386
High 1.6438
Low 1.6345
Close 1.6387
On Tuesday the GBP/USD increased with 90 pips. The Cable appreciated from 1.6345 to 1.6438 yesterday, in line with the positive money flow sentiment at around +9%, closing the day at 1.6387. Today the British pound is trading quietly, with movements at the lower half 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 1.6438. Break above it should extend the bullish movement further towards 1.6560. The nearest support level is yesterday's bottom at 1.6345. Going below it should extend British pound's reduction further down towards next downward objective 1.6220.
Today is UK PMI at 9:30 GMT.
Quotes are moving below the close 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6438 1.6560 1.6693
Technical support levels: 1.6345 1.6220 1.6088
Already made +6 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT Buy GBP/USD at 1.6392 SL 1.6366 TP 1.6452, exit sent at 5:36 GMT.
Today so far +28, yesterday +102.
GBP/USD Hour Chart" title="GBP/USD Hour Chart" width="640" height="540">