GBP/USD Open 1.5973 High 1.6020 Low 1.5928 Close 1.5983

On Thursday Pound/Dollar traded within 75 pip range. The Cable appreciated from 1.5928 to 1.6005 yesterday, in converse with the negative money flow sentiment at nearly -11%, closing the day at 1.5983. Today the British Pound pushed slightly up, reaching 1.6020.

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 1.6020. Break above it should extend the bullish movement further towards 1.6143. The nearest support level is yesterday's bottom at 1.5928. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5800.

Today is UK Trade Balance at 13:30 GMT.

Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and tranquil, while CCI is about to cross down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.6020 1.6143 1.6280
Technical support levels: 1.5928 1.5800 1.5664

Already made +38 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:16 GMT Sell GBP/USD at 1.6010 SL 1.6036 TP 1.5950, exit sent at 8:11 GMT.
Today so far +107, yesterday +119, as shown at our web site.
 

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