On Friday Pound/Dollar traded within 105 pip range. The Cable depreciated from 1.5719 to 1.5614 on Friday, in line with the negative money flow sentiment at under -9%, closing the week at 1.5697. Today the British Pound pushed slightly up, reaching 1.5738.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart quotes broke up of the wide trading range. First resistance is today's peak at 1.5738. Break above it should extend the bullish movement further towards 1.5860. The nearest support level is Friday's bottom at 1.5614. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5490.
There are no major economic events for UK 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 neutral and calm, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5738 1.5860 1.6000
Technical support levels: 1.5614 1.5490 1.5365
Already made +13 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5702 SL 1.5728 TP 1.5642, exit sent at 6:48 GMT+1.
Today so far +66, on Friday +102, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart" width="640" height="540">