GBP/USD Open 1.5818 High 1.5837 Low 1.5753 Close 1.5817
On Tuesday Pound/Dollar recovered, increasing with 80 pips. The Cable appreciated from 1.5753 to 1.5837 yesterday, in line with the positive money flow sentiment at over 16%, closing the day at 1.5817. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being.
On the 1 hour the upward channel is still on hold, while on the 3 hour chart quotes broke up of the wide trading range. First resistance is yesterday's peak at 1.5837. Break above it should extend the bullish movement further towards 1.5960. The nearest support level is yesterday's bottom at 1.5753. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5632.
There are no major economic events for UK today.
Quotes are moving in line with the 20 and just above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.5837 1.5962 1.6100
Technical support levels: 1.5753 1.5632 1.5500
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 1.5813 SL 1.5787 TP 1.5873, exit sent at 6:39 GMT+1.
Today so far +35, yesterday +65, as shown at http://www.zifx.com/performance-past.php.