GBP/USD Open 1.5814 High 1.5870 Low 1.5797 Close 1.5808
On Friday Pound/Dollar continued decreased insignificantly with 70 pips. The Cable depreciated from 1.5870 to 1.5800 on Friday, in line with the negative money flow sentiment at under -16%, closing the week at 1.5808. Today the British descended slightly further to 1.5797.
On the 1 hour the upward channel is on hold, while on the 3 hour chart quotes broke up of the wide trading range. First resistance is Friday's peak at 1.5870. Break above it should extend the bullish movement further towards 1.5992. The nearest support level is today's bottom at 1.5797. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5675.
Today is UK Summer Bank Holiday.
Quotes are moving just bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term slim bearish and medium term bullish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5870 1.5992 1.6130
Technical support levels: 1.5797 1.5675 1.5540
Already made +5 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:16 GMT+1 Buy GBP/USD at 1.5859 SL 1.5833 TP 1.5919, exit sent at 7:27 GMT+1.
Today so far +51, on Friday +52, as shown at http://www.zifx.com/performance-past.php.