GBP/USD Open 1.5987 High 1.6043 Low 1.5956 Close 1.5992

On Tuesday Pound/Dollar increased insignificantly with 50 pips. The Cable appreciated from 1.5956 to 1.6008 yesterday, in line with the positive money flow sentiment at around +10%, closing the day at 1.5992. Today the British Pound strengthened further, climbing to 1.6043.

On the 1 hour chart the downward channel has turned into a range trading, while on the 3 hour chart quotes are moving within wider range. First resistance is today's peak at 1.6043. Break above it should extend the bullish movement further towards 1.6168. The nearest support level is yesterday's bottom at 1.5956. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5830.

There are no major economic events for UK today.

Quotes are moving above the 20 and just bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term slim bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6043 1.6168 1.6300
Technical support levels: 1.5956 1.5830 1.5700

Already made +14 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:16 GMT Buy GBP/USD at 1.6029 SL 1.6003 TP 1.6089, exit sent at 7:37 GMT.
Today so far +54, yesterday +75, as shown at our web site.

 

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