GBP/USD Open 1.6055 High 1.6171 Low 1.6031 Close 1.6041

On Thursday Pound/Dollar decreased with 120 pips. The Cable depreciated from 1.6171 to 1.6039 yesterday, in converse with the positive money flow sentiment at bellow +17%, closing the day at 1.6041. Today the British Pound weakened further, dropping to 1.6031.

On the 1 hour range trading is forming, while on the 3 hour chart the upward channel is still on hold. First resistance is yesterday's peak at 1.6171. Break above it should extend the bullish movement further towards 1.6300. The nearest support level is today's bottom at 1.6031. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5910.

Today are UK PSNB, PSNBX, and PSNCR, all at 08:30 GMT.

Quotes are moving bellow the close 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.6171 1.6300 1.6433
Technical support levels: 1.6031 1.5910 1.5777

Already made +6 pips profit/loss on GBP/USD today from the following sent to clients only signal:
7:18 GMT+1 Sell GBP/USD at 1.6037 SL 1.6063 TP 1.5977, exit sent at 7:41 GMT+1.
Today so far +23, yesterday +138, as shown at our web site.
 

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