GBP/USD Open 1.5948 High 1.6025 Low 1.5912 Close 1.5946
On Tuesday Pound/Dollar decreased with almost 110 pips. The Cable depreciated from 1.6025 to 1.5912 yesterday, in line with the negative money flow sentiment at bellow -19%, closing the day at 1.5946. Today the British Pound is trading hesitantly, with movements still within yesterday's range for the time being.
On the 1 hour downward channel has formed, while on the 3 hour chart quotes are moving within wide range. First resistance is yesterday's peak at 1.6025. Break above it should extend the bullish movement further towards 1.6150. The nearest support level is yesterday's bottom at 1.5912. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5790.
Today is UK CBI industrial order books balance at 10 GMT.
Quotes are moving just bellow the twisted 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6025 1.6150 1.63283
Technical support levels: 1.5912 1.5790 1.5655
Already made +11 pips profit/loss on GBP/USD today from the following sent to clients only signal:
7:37 GMT+1 Buy GBP/USD at 1.5990 SL 1.5964 TP 1.6050, exit sent at 7:38 GMT+1.
Today so far +71, yesterday +138, as shown at our web site.
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