GBP/USD
Open 1.6663
High 1.6685
Low 1.6610
Close 1.6661
On Monday the GBP/USD increased with 75 pips. The Cable appreciated from 1.6610 to 1.6685 yesterday, in line with the positive money flow sentiment at nearly +19%, closing the day at 1.6661. Today the British pound is trading quietly, with movements at the upper half 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 is turning into range trading. First resistance is yesterday's peak at 1.6685. Break above it should extend the bullish movement further towards 1.6810. The nearest support level is yesterday's bottom at 1.6610. Going below it should extend British pound's reduction further down towards next downward objective 1.6488.
Today are UK M4 money supply, and Consumer credit, both at 8:30 GMT.
Quotes are moving above the parallel 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 tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.6685 1.6810 1.6945
Technical support levels: 1.6610 1.6488 1.6455
Already made +14 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6661 SL 1.6635 TP 1.6721, exit sent at 8:05 GMT+1.
Today so far +41, yesterday +107.