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GBP/USD Open 1.4874 High 1.4973 Low 1.4829 Close 1.4880
On Wednesday pound/dollar increased with 125 pips. The cable appreciated from 1.4829 to 1.4955 yesterday, in line with the positive money flow sentiment at around -5%, closing the day at 1.4880. Today the British pound is trading quietly, with movements within yesterday's range for the time 1.4973.
On the 1 hour chart the downward channel is turning into scope trading, while on the 3 hour chart the downward channel is on hold. First resistance is today's peak at 1.4973. Break above it should extend the bullish movement further towards 1.5100. The nearest support level is yesterday's bottom at 1.4829. Going below it should extend British Pound's reduction further down towards next downward objective 1.4705.
Quotes are moving above the almost even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.4973 1.5100 1.5234
Technical support levels: 1.4829 1.4705 1.4570
Already gained +60 pips on GBP/USD today from the following signal:
5:30 GMT Up GBP/USD at 1.4887 Limit 1.4861 Target 1.4947, Target reached at 8:19 GMT.
Today so far +210, yesterday +166, as shown at the website.
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