GBP/USD 1.5490 - 20 May

GBP/USD Open 1.5483 High 1.5523 Low 1.5297 Close 1.5474

Pound/Dollar had another ascending momentum yesterday. On the 1 hour chart the support trend line still does a good job and prevents further decreasing movements. Short term signals remain upwards. We have strong immediate resistance in the region of 1.5525. Break above this level may cause further bullish impetus with test of the next resistance 1.5640. Short term support is seen to 1.5300, followed by 1.5125. The CCI indicator is in the overbought zone and downwards on the 1 hour chart, indicating for a potential descending pressure for another possible test of the trend line.

Technical resistance levels: 1.5525 1.5640 1.5770

Technical support levels: 1.5300 1.5125 1.5000

Trading range: 1.5480 - 1.5550

Trend: Upward

Buy at 1.5490 SL 1.5460 TP 1.5540

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

6:57 GMT+1 Buy GBP/USD at 1.5456 SL 1.5430 TP 1.5516 TP reached at 8:40 GMT

Today so far +176, yesterday +167, as shown at