On Thursday Pound/Dollar traded within 80 pip range. The Cable appreciated first to 1.5729, than lost the earlier gains, dropping to 1.5648 yesterday, in line with the positive morning Interbank sentiment at over +33%, closing the day at 1.5673. Today the British Pound is trading quietly, with movements within yesterday's range for the time being. On the 1 hour chart quotes are testing the upper limit of the wide range, while on the 3 hour chart wider range trading is forming. First resistance is yesterday's peak at 1.5729. Break above it should extend the bullish movement further towards 1.5850. The nearest support level is yesterday's bottom at 1.5648. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5520. There are no major economic events for UK today. Quotes are moving just above the almost even 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 neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals. Happy Christmas holidays!
Technical resistance levels: 1.5729 1.5850 1.5983
Technical support levels: 1.5648 1.5520 1.5387
Trading range: 1.5680 - 1.5745
Trend: Upward
Buy at 1.5692 SL 1.5662 TP 1.5732
Already made +26 pips profit on GBP/USD today from the following sent to clients only signal:
5:22 GMT Buy GBP/USD at 1.5682 SL 1.5656 TP 1.5742, exit sent at 6:39 GMT+1.
Today so far +84, yesterday +164, as shown in details at our web site.
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GBP/USD Within 80 Pip Scope With No Data
Published 12/23/2011, 03:40 AM
Updated 01/01/2017, 02:20 AM
GBP/USD Within 80 Pip Scope With No Data
GBP/USD Open 1.5677 High 1.5729 Low 1.5648 Close 1.5673
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