On Thursday Pound/Dollar continued decreasing with 145 pips. The Cable depreciated from 1.5347 to 1.5200 yesterday, in line with the negative money flow sentiment at below -28%, closing the day at 1.5253. Today the British Pound is trading quietly, with movements at the lower half of yesterday's range for the time being.
On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes are moving within wide trading scope. First resistance is yesterday's peak at 1.5347. Break above it should extend the bullish movement further towards 1.5470. The nearest support level is yesterday's bottom at 1.5200. Going below it should extend British Pound's reduction further down towards next downward objective 1.5077.
There are no major economic events for UK today.
Quotes are moving just below the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5347 1.5470 1.5600
Technical support levels: 1.5200 1.5077 1.4945
Already made +28 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5271 SL 1.5297 TP 1.5211, exit sent at 8:03 GMT+1.
Today so far +108, yesterday +175, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">