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GBP/USD Pushes Up, Next Target 1.57

ByZIFX.com
Published 06/12/2013, 03:33 AM
Updated 01/01/2017, 02:20 AM
GBP/USD
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GBP/USD Open 1.5642 High 1.5654 Low 1.5519 Close 1.5641

On Tuesday, the GBP/USDincreased by 135 pips. The Cable appreciated from 1.5519 to 1.5654 yesterday, in line with the positive money flow sentiment at above +24% to close the day at 1.5641. The British Pound is trading quietly today, with movements at the upper end of yesterday's range for the time being.

The upward channel is on hold On the 1 hour chart , while quotes are still held within wide trading range on the 3 hour chart. First resistance is today's peak at 1.5654. A break above it should extend the bullish movement further towards 1.5780. The nearest support level is yesterday's bottom at 1.5519. Going below it should extend the British Pound's reduction further down, towards the next downward objective of 1.5395.

Data due today: U.K. Claimant count, Average earnings and ILO Jobless rate, all at 8:30 GMT.

Quotes are moving above the 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: 1.5654 1.5780 1.5914
Technical support levels: 1.5519 1.5395 1.5260

Already made +34 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5640 SL 1.5614 TP 1.5700, exit sent at 8:05 GMT+1.
Today so far +105, yesterday +150, as shown at our web site.


<span class=GBP/USD Chart" title="GBP/USD Chart">

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