GBP/USD
Open 1.6607
High 1.6625
Low 1.6561
Close 1.6604
On Monday the GBP/USD increased with almost 65 pips. The Cable appreciated from 1.6561 to 1.6625 yesterday, in line with the positive money flow sentiment at around +8%, closing the day at 1.6604. 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 scope trading is forming, while on the 3 hour chart the upward channel has turned into range trading. First resistance is yesterday's peak at 1.6561. Break above it should extend the bullish movement further towards 1.6685. The nearest support level is yesterday's bottom at 1.6625. Going below it should extend British Pound's reduction further down towards next downward objective 1.6500.
Today are UK Industrial and Manufacturing production, both at 8:30 GMT.
Quotes are moving above the crossing 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6561 1.6685 1.6830
Technical support levels: 1.6625 1.6500 1.6364
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 1.6617 SL 1.6591 TP 1.6677, exit sent at 8:01 GMT+1.
Today so far +63, yesterday +39, as shown at our web site.