On Thursday Pound/Dollar increased with 115 pips. The Cable appreciated from 1.5012 to 1.5129 yesterday, in converse with the negative money flow sentiment at around -12%, closing the day at 1.5105. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being.
On the 1 hour chart the downward channel looks good, while on the 3 hour chart wide range trading has formed. First resistance is yesterday's peak at 1.5129. Break above it should extend the bullish movement further towards 1.5255. The nearest support level is today's bottom at 1.5012. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4890.
There are no major economic events for UK today.
Quotes are moving just above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term neutral pressure. The value of the RSI indicator is neutral and calm, MACD is negative and inclining upwards, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5129 1.5255 1.5390
Technical support levels: 1.5012 1.4890 1.4755
Already made +34 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:14 GMT+1 Buy GBP/USD at 1.5081 SL 1.5055 TP 1.5141, exit sent at 5:28 GMT+1.
Today so far +144, yesterday +120, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">