Cable With Slightly Bullish Start Of The Week
ZIFX com | Sep 23, 2014 03:18AM ET
GBP/USD Open 1.6354 High 1.6392 Low 1.6284 Close 1.6358
On Monday GBP/USD increased with 90 pips. The Cable appreciated from 1.6284 to 1.6373 yesterday, in converse with the negative money flow sentiment at under -8%, closing the day at 1.6358. Today the British pound lifted slightly further, reaching 1.6392.
On the 1 hour chart the downward channel is turning into range trading, while on the 3 hour chart the downward channel is on hold. First resistance is today's peak at 1.6392. Break above it should extend the bullish movement further towards 1.6516. The nearest support level is yesterday's bottom at 1.6284. Going below it should extend British pound's reduction further down towards next downward objective 1.6160.
Quotes are moving just below the crossing and close 20 and 50 the EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6392 1.6516 1.6650
Technical support levels: 1.6284 1.6160 1.6027
Already made +8 pips profit/loss on GBP/USD today from the following signal:
7:58 GMT+1 Sell GBP/USD at 1.6358 SL 1.6384 TP 1.6298, exit given at 7:59 GMT+1.
Today so far +33, yesterday +38, as shown at our web site.
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