On Monday, the GBP/USD increased tremendously by 190 pips. The Cable appreciated from 1.5187 to 1.5377 yesterday, in line with the positive money flow sentiment at almost +31% and closing the day at 1.5312. The British Pound is trading quietly today, with movements at the upper half yesterday's range for the time being.
The downward channel has turned into range trading on the 1 hour chart, while wide range trading has formed on the 3 hour chart. The first resistance is yesterday's peak at 1.5377. A break above it should extend the bullish movement further towards 1.5500. The nearest support level is yesterday's bottom at 1.5187. Going below should extend the British Pound's reduction further down towards the next downward objective of 1.5065.
There are no major economic events for the U.K. today.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.5377 1.5500 1.5634
Technical support levels: 1.5187 1.5065 1.4930
Already made +7 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5321 SL 1.5295 TP 1.5381, exit sent at 5:32 GMT+1.
Today so far +92, yesterday +156, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">