GBP/USD Open 1.6032 High 1.6077 Low 1.5935 Close 1.6035

On Wednesday Pound/Dollar increased with 120 pips. The Cable appreciated from 1.5935 to 1.6055 yesterday, in line with the positive money flow sentiment at bellow +23%, closing the day at 1.6035. Today the British Pound continued pushing up, lifting to 1.6200.

On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes are moving within wide range. First resistance is today's peak at 1.6077. Break above it should extend the bullish movement further towards 1.6200. The nearest support level is yesterday's bottom at 1.5935. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5810.

Today is UK GDP Q3 at 8:30 GMT.

Quotes are moving just above the twisted 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, 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: 1.6077 1.6200 1.6334
Technical support levels: 1.5935 1.5810 1.5674

Already made +37 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6039 SL 1.6013 TP 1.6099, exit sent at 7:06 GMT+1.
Today so far +131, yesterday +132, as shown at our web site.
 

Copyright ZIFX.com All rights reserved.