On Friday, the GBP/USD decreased by 135 pips. The Cable depreciated from 1.5620 to 1.5486 on Friday, in line with the negative money flow sentiment at under -8% and closing the week at 1.5554. The British Pound is trading quietly today, with movements at the lower end of Friday's range for the time being.
The upward channel is on hold on the 1 hour chart, while quotes are moving within wide trading range on the 3 hour chart. First resistance is Friday's peak at 1.5620. A break above it should extend the bullish movement further towards 1.5744. The nearest support level is Friday's bottom at 1.5486. Going below it should extend the British Pound's reduction further down towards the next downward objective of 1.5370.
There are no major economic events for the U.K. 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 calm. The MACD is positive and tranquil, while the CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.5620 1.5744 1.5880
Technical support levels: 1.5486 1.5370 1.5237
Already made +19 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5521 SL 1.5547 TP 1.5461, exit sent at 8:18 GMT+1.
Today so far +98, on Friday +102, as shown at our web site.
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GBP/USD Retreats To 1.55 After U.S. Jobs
Published 06/10/2013, 03:30 AM
Updated 01/01/2017, 02:20 AM
GBP/USD Retreats To 1.55 After U.S. Jobs
GBP/USD Open 1.5528 High 1.5620 Low 1.5486 Close 1.5554
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