On Monday, the GBP/USD traded within 85 pip range. The Cable appreciated from 1.5469 to 1.5546 on Monday, in line with the positive money flow sentiment at above +24%, closing the day at 1.5497.The British Pound slipped today, down to 1.5466.
The upward channel has resumed on the 1 hour chart, while trading scope has formed on the 3 hour chart. First resistance is Monday's peak at 1.5546. Breaking above it should extend the bullish movement further towards 1.5664. The nearest support level is today's bottom at 1.5466. Going below it should extend the British pound's reduction further down towards next downward objective of 1.5344.
Data due today: U.K. M4 money supply and Consumer credit, both at 8:30 GMT.
Quotes are moving bellow the 20 and just above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term slim bullish pressure. The value of the RSI indicator is negative and hesitant andthe MACD is positive and tranquil. The CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.5546 1.5664 1.5800
Technical support levels: 1.5466 1.5344 1.5210
Already made +22 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5485 SL 1.5459 TP 1.5545, exit sent at 6:28 GMT+1.
Today so far +81, yesterday +151, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">