On Friday Pound/Dollar decreased with 115 pips. The Cable depreciated from 1.5190 to 1.5075 on Friday, in line with the negative money flow sentiment at under -16%, closing the week at 1.5100. Today the British Pound is trading quietly, with movements at the lower end of Friday'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 Friday's peak at 1.5190. Break above it should extend the bullish movement further towards 1.5314. The nearest support level is Friday's bottom at 1.5075. Going below it should extend British Pound's reduction further down towards next downward objective 1.4952.
There are no major economic events for UK today.
Quotes are moving just bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term slim bearish and medium term neutral pressure. The value of the RSI indicator is thinly negative and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5190 1.5314 1.5450
Technical support levels: 1.5075 1.4952 1.4820
Already made +12 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5115 SL 1.5089 TP 1.5175, exit sent at 6:00 GMT+1.
Today so far +57, on Friday +139, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">