GBP/USD 1.5170 - 2 July 2010

GBP/USD Open 1.5162 High 1.5073 Low 1.4876 Close 1.5174

On Thursday Pound/Dollar also climbed on the bad US economic data, not exactly matching the weak negative Interbank sentiment at around -8%. The Cable appreciated from 1.4876 to 1.5190 yesterday, closing the day at 1.5174. Today the ascending momentum is still pushing up. On the 1 and 3 hour charts the upward channel is resumed after the lower limit successfully bounced the pair up. First and strong resistance is today's top at 1.5202. Break above it should extend the bullish movement further towards 1.5331. The nearest support is today's bottom at 1.4876. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4762. There are no major economic events for UK today. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.Technical resistance levels: 1.5202 1.5331 1.5450Technical support levels: 1.4876 1.4762 1.4650

Trading range: 1.5160 - 1.5230Trend: UpwardBuy at 1.5170 SL 1.5140 TP 1.5220

Already made +33 pips profit on GBP/USD today from the following signal:5:32 GMT+1 Buy GBP/USD at 1.5171 SL 1.5145 TP 1.5231 exit at 8:28 GMT+1.Today so far +92, yesterday +107, as shown in details at