GBP/USD 1.4840 - 16 January

GBP/USD Open 1.4671 High 1.4890 Low 1.4493 Close 1.4639

Pound/Dollar made an upward correction yesterday. The currency couple reached a bottom at 1.4493, from where it started climbing, and closed at 1.4639. The uptrend continued today, reaching today's peak so far at 1.4890, with over 350 pips of rise since yesterday. On the one hour chart we can see that the Cable is moving within the 1.4465 - 1.5342 range. In the long term the bearish scenario remains, with possible drop towards 1.4150 after the consolidation. Break under 1.4475 could lead to decreasing momentum with targets towards the region of 1.4365. Movement above 1.4900 would signal that the fall from 1.5372 is complete and a bottom at 1.4465 is formed, therefore upward correction can be restored towards 1.4950. The CCI indicator is in the neutral zone on the one hour chart.

Technical resistance levels: 1.4900 1.5000 1.5150

Technical support levels: 1.4640 1.4490 1.4365

Trading range: 1.4830 - 1.4900

Trend: Upward

Buy at 1.4840 SL 1.4810 TP 1.4890

Today we made already +60 pips profit on GBP/USD from the following signal:

5:48 GMT Buy GBP/USD at 1.4784 SL 1.4758 TP 1.4844 TP reached at 5:53 GMT

Today so far +152, yesterday +157, as shown at