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GBP/USD Quiet On U.S. Fiscal Countdown

GBP/USD Quiet On U.S. Fiscal Countdown


Open 1.5969

High 1.6019

Low 1.5951

Close 1.5978On Monday GBP/USD traded within 65 pip range. The Cable appreciated from 1.5951 to 1.6019 yesterday, in line with the positive money flow sentiment at around +10%, closing the day at 1.5978. Today the British pound is trading quietly, with movements within yesterday’s range for the time being.On the 1 hour chart the upward channel is turning into range trading, while on the 3 hour the the upward channel is on hold. First resistance is yesterday’s peak at 1.6019. A break above it should extend the bullish movement further towards 1.6140. The nearest support level is yesterday’s bottom at 1.5951. Going below it should extend British pound’s reduction further down towards next downward objective 1.5830.Today are UK House price index, Retail prices, PPI Output and Input, all at 8:30 GMT.Quotes are moving just below the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 1.6019 1.6140 1.6272

Technical support levels: 1.5951 1.5830 1.5700Already made +4 pips profit/loss on GBP/USD today from the following sent to clients only signal:5:15 GMT+1 Buy GBP/USD at 1.5994 SL 1.5968 TP 1.6054, exit sent at 5:40 GMT+1.

Today so far +32, yesterday +94.

GBP/USD Chart” title=”GBP/USD Chart” width=”640″ height=”540″ src=”” />

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