On Friday, the GBP/USD decreased by135 pips. The Cable depreciated from 1.5241 to 1.5139 on Friday, in line with the negative money flow sentiment at under -16%, closing the week up at 1.5192. The British Pound climbed further today, as high as 1.5257.
The downward channel is on hold on the 1 hour chart, while wide range trading has formed on the 3 hour chart. First resistance is today's peak at 1.5257. Breaking above it should extend the bullish movement further towards 1.5380. The nearest support level is Friday's bottom at 1.5139. Going below should extend the British pound's reduction further down towards the next downward objective of 1.5015.
The U.K. Manufacturing PMI is due today 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 inclining upwards. The MACD is positive and tranquil, while the CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.5257 1.5380 1.5515
Technical support levels: 1.5139 1.5015 1.4880
Already made +14 pips profit/loss on GBP/USD today from the following sent to clients only signal:
7:36 GMT+1 Buy GBP/USD at 1.5240 SL 1.5214 TP 1.5300, exit sent at 7:58 GMT+1.
Today so far +72, on Friday +125, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">
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GBP/USD Resumes Uptrend, Lifting Over 1.525
Published 06/03/2013, 03:26 AM
Updated 01/01/2017, 02:20 AM
GBP/USD Resumes Uptrend, Lifting Over 1.525
GBP/USD Open 1.5195 High 1.5257 Low 1.5139 Close 1.5192
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