Open 1.6042
High 1.6073
Low 1.5990
Close 1.6039
On Monday GBP/USD continued increasing with 80 pips. The Cable appreciated from 1.5990 to 1.6073 yesterday, in line with the positive money flow sentiment at nearly +24%, closing the day at 1.6039. Today the British pound is trading quietly, with movements within yesterday's range for the time being.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour the new upward channel looks good. First resistance is yesterday's peak at 1.6073. A break above it should extend the bullish movement further towards 1.6200. The nearest support level is yesterday's bottom at 1.5990. Going below it should extend British pound's reduction further down towards next downward objective 1.5867.
There are no major economic events for UK today.
Quotes are moving in line with the 20 and 50 EMA on the 1 hour chart, indicating neutral pressure. The value of the RSI indicator is neutral and hesitant, the MACD is thinly positive and tranquil, while the CCI is in line with the 100 line on the 1 hour chart giving over all neutral signals.
Technical resistance levels: 1.6073 1.6200 1.6332
Technical support levels: 1.5990 1.5867 1.5734
Already made +8 pips profit/loss on GBP/USD today, signaling to clients:
5:15 GMT+1 Sell GBP/USD at 1.6029 SL 1.6055 TP 1.5969, exit sent at 6:55 GMT+1.
Today so far +40, yesterday +146.
GBP/USD Hourly Chart" title="GBP/USD Hourly Chart" src="https://d1-invdn-com.akamaized.net/content/pic17de2bfabeedd314de71cb7a1d071ae1.png" height="540" width="640">