On Wednesday, The GBP/USD increased by 120 pips. The Cable appreciated from 1.5289 to 1.5409 yesterday, in line with the positive money flow sentiment at nearly +28% and closing the day at 1.5401. The British Pound lifted slightly further to 1.5447 today.
An upward channel has formed on the 1 hour chart, while wide range trading has formed on the 3 hour chart. The first resistance is today's peak at 1.5447. A break above it should extend the bullish movement further towards 1.5570. The nearest support level is yesterday's bottom at 1.5289. Going below it should extend the British Pound's reduction further down towards the next downward objective of 1.5164.
Data due Today: U.K. BoE Interest Rate Decision and BoE QE, both at 11 GMT.
Quotes are moving above the parallel 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm. The MACD is positive and tranquil too, while the CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.5447 1.5570 1.5700
Technical support levels: 1.5289 1.5164 1.5030
Already made +39 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:14 GMT+1 Buy GBP/USD at 1.5406 SL 1.5380 TP 1.5466, exit sent at 7:49 GMT+1.
Today so far +130, yesterday +166, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">
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GBP/USD Climbs This Month, BoE Ahead
Published 06/06/2013, 03:28 AM
Updated 01/01/2017, 02:20 AM
GBP/USD Climbs This Month, BoE Ahead
GBP/USD Open 1.5405 High 1.5447 Low 1.5289 Close 1.5401
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