On Thursday Pound/Dollar traded within 110 pip range. The Cable appreciated from 1.5412 to 1.5524 yesterday, in converse with the negative money flow sentiment at nearly -16%, closing the day at 1.5496. Today the British Pound lifted slightly further, reaching 1.5532.
On the 1 hour chart the upward channel is turning into range trading, while on the 3 hour chart wide trading range has formed. First resistance is today's peak at 1.5532. Break above it should extend the bullish movement further towards 1.5655. The nearest support level is yesterday's bottom at 1.5412. Going below it should extend British Pound's reduction further down towards next downward objective 1.5290.
Today is UK Public Sector Net Borrowing at 8:30 GMT.
Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, short term bullish and medium term bearish pressure. The value of the RSI indicator is neutral and hesitant, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5532 1.5655 1.5790
Technical support levels: 1.5412 1.5290 1.5157
Already made +17 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5508 SL 1.5534 TP 1.5448, exit sent at 6:39 GMT+1.
Today so far +123, yesterday +180, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">