On Wednesday Pound/Dollar increased with 125 pips. The Cable appreciated from 1.5420 to 1.5548 yesterday, in line with the positive money flow sentiment at over +16%, closing the day at 1.5493. Today the British Pound trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart the upward channel is making renewal attempts, while on the 3 hour chart quotes are moving within wide trading scope. First resistance is yesterday's peak at 1.5548. Break above it should extend the bullish movement further towards 1.5670. The nearest support level is yesterday's bottom at 1.5420. Going below it should extend British Pound's reduction further down towards next downward objective 1.5300.
Today are UK Retail sales, all at 8:30 GMT.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.5548 1.5670 1.5800
Technical support levels: 1.5420 1.5300 1.5167
Already made +18 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5520 SL 1.5494 TP 1.5580, exit sent at 7:34 GMT+1.
Today so far +40, yesterday +154, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">