Cable Lifts On U.S. Trade Gulf
Lui Andersen | May 06, 2015 01:28AM ET
GBP/USD Open 1.5167 High 1.5219 Low 1.5086 Close 1.5177
On Wednesday pound/dollar increased with 130 pips. The able appreciated from 1.5086 to 1.5219 yesterday, in line with the positive money flow sentiment at over +10%, closing the day at 1.5177. Today the British pound is trading quietly, with movements at the upper end of yesterday's range for the time being.
On the 1 hour chart the upward channel is on hold, while on the 3 hour chart wide trading scope has taken shape. First resistance is yesterday's peak at 1.5219. Break above it should extend the bullish movement further towards the 1.5340. The nearest support level is yesterday's bottom at 1.5086. Going below it should extend British pound's reduction further down towards next downward objective 1.4964.
Quotes are moving above the crossing and close 20 and EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5219 1.5340 1.5473
Technical support levels: 1.5086 1.4964 1.483
Yesterday +29 pips gained on EUR/USD from the following signal:
5:30 GMT+1 Down GBP/USD at 1.5121 Limit 1.5147 Target 1.5061, exit given at 9:31 GMT+1.
Total yesterday +147, as shown at the website. Have a great day!
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