On Friday Pound/Dollar decreased insignificantly with 65 pips. The Cable depreciated from 1.5740 to 1.5673 on Friday, in line with the negative money flow sentiment at nearly -11%, closing the week at 1.5694. Today the British Pound is trading quietly, with movements within Friday's range for the time being.
On the 1 hour chart quotes are holding within the trading range, while on the 3 hour chart trading is within wider range. First resistance is Friday's peak at 1.5740. Break above it should extend the bullish movement further towards 1.5868, before the psychological 1.6000. The nearest support level is Friday's bottom at 1.5673. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5550.
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 hesitant, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5740 1.5868 1.6000 Technical support levels: 1.5673 1.5550 1.5416
Already made +2 pips profit/loss on GBP/USD today from the following sent to clients only signal: 5:14 GMT+1 Sell GBP/USD at 1.5690 SL 1.5716 TP 1.5630, exit sent at 5:18 GMT+1. Today so far +26, on Friday +68, as shown at http://www.zifx.com/performance.php.