GBP/USD Open 1.6246 Low 1.6205 High 1.6274 Close 1.6247
On Monday Pound/Dollar continued increasing with almost 70 pips. The Cable appreciated from 1.6205 to 1.6274 yesterday, in line with the positive money flow sentiment at almost around +20%, closing the day at 1.6247. Today the British Pound is trading quietly, with movements within yesterday's range for the time being.
On the 1 hour the upward channel has slowed down, while on the 3 hour chart the upward channel looks good. First resistance is yesterday's peak at 1.6274. Break above it should extend the bullish movement further towards 1.6400. The nearest support level is yesterday's bottom at 1.6205. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6084.
Today are UK HICP, Retail prices, and RPI-X, all at 8:30 GMT.
Quotes are moving just above the 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 positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6274 1.6400 1.6533
Technical support levels: 1.6205 1.6084 1.5950
Already made +7 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6246 SL 1.6220 TP 1.6306, exit sent at 7:49 GMT+1.
Today so far +45, yesterday +82, as shown at http://www.zifx.com/performance-past.php.