GBP/USD Open 1.4260 High 1.4321 Low 1.4189 Close 1.4257
On Monday pound/dollar increased with 130 pips. The cable appreciated from 1.4189 to 1.4321 yesterday, in line with the positive money flow sentiment at above +7%, closing the day at 1.4257. Today the British pound is trading quietly, with movements within yesterday's range for the time being.
On the 1-hour chart wide range trading has formed, while on the 3-hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.4321. Break above it should extend the bullish movement further towards the 1.4436. The nearest support level is yesterday's bottom at 1.4189. Going below it should extend British pound's reduction further down towards next downward objective 1.4073.
Quotes are moving just below the close 20 and 50 EMA on the 1-hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and waving, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1-hour chart, giving over all light short signals.
Technical resistance levels: 1.4321 1.4436 1.4560
Technical support levels: 1.4189 1.4073 1.3950
Yesterday +32 pips gained on GBP/USD from the following signal:
5:30 GMT+1 Sell GBP/USD at 1.4222 SL 1.4248 T 1.4162, exit given at 9:55 GMT+1.
Total yesterday +111, as shown at our web site.
Have a great day!
