GBP/USD Open 1.6222 Low 1.6149 High 1.6256 Close 1.6213
On Friday Pound/Dollar continued increasing with 105 pips. The Cable appreciated from 1.6149 to 1.6256 on Friday, in line with the positive money flow sentiment at almost nearly +24%, closing the week at 1.6213. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being.
On the 1 hour the upward channel looks good, while on the 3 hour chart the upward channel has accelerated. First resistance is Friday's peak at 1.6256. Break above it should extend the bullish movement further towards 1.6380. The nearest support level is Friday's bottom at 1.6149. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6025.
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 inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6256 1.6380 1.6514
Technical support levels: 1.6149 1.6025 1.5890
Already made +3 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:16 GMT+1 Buy GBP/USD at 1.6227 SL 1.6201 TP 1.6287, exit sent at 5:19 GMT+1.
Today so far +23, on Friday +161, as shown at http://www.zifx.com/performance-past.php.