GBP/USD Open 1.6016 High 1.6053 Low 1.5989 Close 1.6007

On Monday Pound/Dollar recovered slightly, increasing with almost 65 pips. The Cable appreciated from 1.5989 to 1.6053 yesterday, in line with the positive money flow sentiment at nearly -10%, closing the day at 1.6007. Today the British Pound corrected, but is moving still within yesterday's range for the time being.

On the 1 hour range trading has formed, while on the 3 hour chart the upward channel is still on hold. First resistance is yesterday's peak at 1.6053. Break above it should extend the bullish movement further towards 1.6180. The nearest support level is yesterday's bottom at 1.5989. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5864.

There are no major economic events for UK today.

Quotes are moving just bellow the twisted and close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6053 1.6180 1.6312
Technical support levels: 1.5989 1.5864 1.5730

Already made +6 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6010 SL 1.5984 TP 1.6070, exit sent at 5:57 GMT+1.
Today so far +39, yesterday +135, as shown at our web site.
 

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