Open 1.6421
High 1.6469
Low 1.6322
Close 1.6420
On Monday the GBP/USD increased with 110 pips. The Cable appreciated from 1.6322 to 1.6434 yesterday, in line with the positive money flow sentiment at above +21%, closing the day at 1.6420. Today the British Pound ascended further, reaching 1.6469.
On the 1 hour chart the upward channel is trying to renew, while on the 3 hour chart the upward channel has resumed. First resistance is today's peak at 1.6469. Break above it should extend the bullish movement further towards 1.6590. The nearest support level is yesterday's bottom at 1.6322. Going below it should extend British pound's reduction further down towards next downward objective 1.6200.
Today are UK Industrial production, Manufacturing output, Trade balance, and Non EU trade, all at 9:30 GMT.
Quotes are moving above the 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.6469 1.6590 1.6722
Technical support levels: 1.6322 1.6200 1.6068
Already made +4 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT Buy GBP/USD at 1.6460 SL 1.6434 TP 1.6520, exit sent at 5:15 GMT.
Today so far +25, yesterday +105.
GBP/USD Hour Chart" title="GBP/USD Hour Chart" width="640" height="540">