GBP/USD 1.5074 - 7 May

GBP/USD Open 1.5146 High 1.5158 Low 1.4992 Close 1.5131

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 neutral. We have strong immediate resistance in the region of 1.5158. Break above this level may cause further bullish impetus with test of the next resistance 1.5275. Short term support is seen to 1.4992, followed by 1.4870. 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: 1.5160 1.5275 1.5400

Technical support levels: 1.4990 1.4870 1.4735

Trading range: 1.5060 - 1.5135

Trend: Upward

Buy at 1.5074 SL 1.5044 TP 1.5124

Today we made already +27 pips profit on GBP/USD from the following signal:

5:44 GMT+1 Buy GBP/USD at 1.5125 SL 1.5099 TP 1.5185 exited at 7:35 GMT

Today so far +99, yesterday +164, as shown at