On Friday, the GBP/USD traded within 110 pip range. The Cable appreciated from 1.5067 to 1.5177 on Friday, in line with the positive money flow sentiment at almost +24%, closing the week at 1.5112. The British pound is trading quietly today, with movements at the lower end of Friday's range for the time being.
The downward channel is turning into range trading on the 1 hour chart , while on the 3 hour chart the downward channel is on hold. First resistance is Friday's peak at 1.5177. Break above it should extend the bullish movement further towards 1.5300. The nearest support level is Friday's bottom at 1.5067. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4945.
The UK Rightmove House Price index was issued today at 00:01 GMT.
Quotes are moving above the close and crossing 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and tranquil. The CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5177 1.5300 1.5433
Technical support levels: 1.5067 1.4945 1.4810
Already made +39 pips profit/loss on GBP/USD today from the following sent to clients only signal:
6:41 GMT Sell GBP/USD at 1.5113 SL 1.5139 TP 1.5053, exit sent at 7:39 GMT.
Today so far +102, on Friday +172, as shown here.
GBP/USD H4" title="GBP/USD H4" width="480" height="380">