GBP/USD Extends Uptrend Over 1.57
GBP/USD Open 1.5691 High 1.5733 Low 1.5609 Close 1.5689On Monday the GBP/USD continued increasing with 120 pips. The Cable appreciated from 1.5609 to 1.5733 yesterday, in line with the positive money flow sentiment at around +19%, closing the day at 1.5689. 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 has renewed, while on the 3 hour chart quotes are testing the upper limit of the wide trading range. First resistance is yesterday’s peak at 1.5733. A break above it should extend the bullish movement further towards 1.5855. The nearest support level is yesterday’s bottom at 1.5609. Going below it should extend the pound’s reduction further down towards next downward objective 1.5486.There are no major economic events for UK today.Quotes are moving just bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term slim bearish and medium term bullish pressure. The value of the RSI indicator is neutral and hesitant, the MACD is positive and tranquil, while the CCI has crossed down the 100 line on the 1 hour chart giving over all neutral signals.Technical resistance levels: 1.5733 1.5855 1.5990Technical support levels: 1.5609 1.5486 1.5350Today made +9 pips profit/loss on GBP/USD signaling to clients:5:15 GMT+1 Buy GBP/USD at 1.5700 SL 1.5674 TP 1.5760, exit sent at 6:46 GMT+1.Today so far +56, yesterday +65.
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