On Thursday Pound/Dollar increased with 100 pips. The Cable appreciated from 1.5195 to 1.5323 yesterday, in line with the negative money flow sentiment at around -25%, closing the day at 1.5226. Today the British Pound is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart trading range has formed, while on the 3 hour chart the new upward channel is turning into range trading. First resistance is yesterday's peak at 1.5323. Break above it should extend the bullish movement further towards 1.5445. The nearest support level is yesterday's bottom at 1.5195. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5070.
There are no major economic events for UK today.
Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5323 1.5445 1.5580
Technical support levels: 1.5195 1.5070 1.4937
Already made +16 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5241 SL 1.5267 TP 1.5181, exit sent at 8:16 GMT+1.
Today so far +66, yesterday +144, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">
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GBP/USD Ceases Downtrend, Holding Above 1.52
Published 05/17/2013, 03:36 AM
Updated 01/01/2017, 02:20 AM
GBP/USD Ceases Downtrend, Holding Above 1.52
GBP/USD Open 1.5279 High 1.5323 Low 1.5195 Close 1.5264
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