On Thursday Pound/Dollar increased with 160 pips. The Cable appreciated from 1.5060 to 1.5223 yesterday, in line with the positive money flow sentiment at over +32%, closing the day at 1.5176. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being.
On the 1 hour chart the downward channel is on hold, while on the 3 hour chart quotes returned to the wide trading scope. First resistance is yesterday's peak at 1.5223. Break above it should extend the bullish movement further towards 1.5345. The nearest support level is yesterday's bottom at 1.5060. Going below it should extend British Pound's reduction further down towards next downward objective 1.4936.
There are no major economic events for UK today.
Quotes are moving just bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term slim bearish and medium term bullish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5223 1.5345 1.5480
Technical support levels: 1.5060 1.4936 1.4800
Already made +10 pips profit/loss on GBP/USD today from the following sent to clients only signal:
7:42 GMT+1 Sell GBP/USD at 1.5148 SL 1.5174 TP 1.5088, exit sent at 7:44 GMT+1.
Today so far +52, yesterday +113, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">