GBP/USD Open 1.5974 High 1.6043 Low 1.5953 Close 1.5982
On Wednesday Pound/Dollar traded within 90 pip range. The Cable depreciated from 1.6043 to 1.5953 yesterday, in line with the negative money flow sentiment at bellow -12%, closing the day at 1.5982. Today the British Pound is trading quietly, with movements at the lower end of yesterday's range for the time being.
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 1.6043. Break above it should extend the bullish movement further towards 1.6168. The nearest support level is yesterday's bottom at 1.5953. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5830.
Today are UK Trade in goods, Non EU trade, and BoE meeting announcement and QE, at 9:30 and 12 GMT respectively.
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 has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6043 1.6168 1.6300
Technical support levels: 1.5953 1.5830 1.5700
Already made +11 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:19 GMT Sell GBP/USD at 1.5979 SL 1.6005 TP 1.5919, exit sent at 8:23 GMT.
Today so far +27, yesterday +110, as shown at our web site.
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