GBP/USD Open 1.6010 High 1.6035 Low 1.5921 Close 1.6009
On Friday Pound/Dollar increased with 110 pips. The Cable appreciated from 1.5921 to 1.6035 on Friday, in line with the positive money flow sentiment at almost around +26%, closing the week at 1.6009. Today the British Pound is trading quietly, with movements at the upper end of Friday's range for the time being.
On the 1 hour the upward channel has renewed, while on the 3 hour chart the small angle upward channel has accelerated. First resistance is Friday's peak at 1.6035. Break above it should extend the bullish movement further towards 1.6160. The nearest support level is Friday's bottom at 1.5921. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5800.
There are no major economic events for UK today.
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: 1.6035 1.6160 1.6300
Technical support levels: 1.5921 1.5800 1.5667
Already made +23 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5992 SL 1.5966 TP 1.6052, exit sent at 8:22 GMT+1.
Today so far +61, on Friday +129, as shown at http://www.zifx.com/performance-past.php.