GBP/USD Open 1.6131 High 1.6175 Low 1.6084 Close 1.6123
On Thursday Pound/Dollar traded within 55 pip range. The Cable appreciated from 1.6120 to 1.6175 yesterday, in line with the positive money flow sentiment at around +17%, closing the day at 1.6128. Today the British Pound weakened, dropping down to to 1.6084.
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 yesterday's peak at 1.6175. Break above it should extend the bullish movement further towards 1.6300. The nearest support level is today's bottom at 1.6084. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5964.
There are no major economic events for UK today.
Quotes are moving bellow the 20 and just above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over neutral signals.
Technical resistance levels: 1.6175 1.6300 1.6433
Technical support levels: 1.6084 1.5964 1.5830
Already made +2 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:17 GMT Buy GBP/USD at 1.6110 SL 1.6084 TP 1.6170, exit sent at 5:20 GMT.
Today so far +52, yesterday +97, as shown at our web site.
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