On Friday, the USD/GBP continued decreasing significantly by almost 200 pips. The currency couple depreciated from 102.59 to 100.64 on Friday, matching the negative money flow sentiment at nearly -27%, and closing the week at 101.22. The Dollar is trading quietly against the Yen this morning, with movements at the lower end of Friday's range for now.
The upward channel is on hold on the 1 hour chart, while the upward channel has slowed down on the 3 hour chart. A break above Friday's top and nearest resistance to 102.59 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 100.81. A consistent break below it could strengthen the Yen further down towards the next target of 99.75.
Today is Japan Corporate Service Price at 23:50 GMT.
Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm. The MACD is negative and tranquil, while the CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 102.59 103.48 104.29
Technical support levels: 100.64 99.75 98.94
Today so far +24 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Sell USD/JPY at 101.03 SL 101.29 TP 100.53, exit sent at 9:39 GMT+1.
Today so far +123, on Friday +206, as shown at our web site. Have a great day!