On Friday, the GBP/USD increased by 80 pips. The Cable appreciated from 1.5063 to 1.5143 on Friday, in line with the positive money flow sentiment at around +8% and closing the week at 1.5116. The British Pound is trading quietly today, with movements at the upper end of Friday's range for the time being.
The downward channel has slowed down on the 1 hour chart, while wide range trading has formed on the 3 hour chart. The first resistance is Friday's peak at 1.5143. Breaking above it should extend the bullish movement further towards 1.5267. The nearest support level is Friday's bottom at 1.5063. Going below it should extend the British pound's reduction further down, towards the next downward objective of 1.4938.
Today is the U.K. Spring Bank Holiday.
Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm. MACD is negative and inclining upwards, while the CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.5143 1.5267 1.5400
Technical support levels: 1.5063 1.4938 1.4800
Already made +17 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5121 SL 1.5095 TP 1.5181, exit sent at 7:33 GMT+1.
Today so far +88, on Friday +206, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">