GBP/USD Drops Ahead Of Increased U.S. Employment
ZIFX com | Oct 22, 2013 03:23AM ET
GBP/USD
Open 1.6143
High 1.6187
Low 1.6114
Close 1.6140
On Monday GBP/USD decreased with 55 pips. The Cable depreciated from 1.6187 to 1.6131 yesterday, in line with the negative money flow sentiment at under -17%, closing the day at 1.6140. Today the British pound weakened further ahead of the increased with 180K U.S. jobs in September, reaching 1.6114.
On the 1 hour chart the upward channel has turned into range trading, while on the 3 hour the the upward channel is on hold. First resistance is yesterday's peak at 1.6187. Break above it should extend the bullish movement further towards 1.6310. The nearest support level is today's bottom at 1.6114. Going below it should extend British pound's reduction further down towards next downward objective 1.5990.
Today is UK Public sector net borrowing at 8:30 GMT.
Quotes are moving just below the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative 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: 1.6187 1.6310 1.6442
Technical support levels: 1.6114 1.5990 1.5856
Already made +7 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.6122 SL 1.6148 TP 1.6062, exit sent at 8:08 GMT+1.
Today so far +15, yesterday +49.
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