GBP/USD Slides Ahead Of Today’s Fed Meeting
Close 1.6044On Tuesday GBP/USD decreased with 125 pips. The Cable depreciated from 1.6146 to 1.6020 yesterday, in line with the negative money flow sentiment at under -27%, closing the day at 1.6044. Today the British pound is trading quietly, with movements at the lower end of yesterday’s range for the time being.On the 1 hour chart range trading has formed, while on the 3 hour the the upward channel is on hold. First resistance is yesterday’s peak at 1.6146. Break above it should extend the bullish movement further towards 1.6270. The nearest support level is yesterday’s bottom at 1.6020. Going below it should extend British pound’s reduction further down towards next downward objective 1.5900.There are no major economic events for UK today.Quotes are moving just below the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI is in line with the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6146 1.6270 1.6400
Technical support levels: 1.6020 1.5900 1.5767Already made +4 pips profit/loss on GBP/USD today from the following sent to clients only signal:5:15 GMT Sell GBP/USD at 1.6043 SL 1.6069 TP 1.5983, exit sent at 5:18 GMT.
Today so far +31, yesterday +140.
GBP/USD Hour Chart” title=”GBP/USD Hour Chart” width=”640″ height=”540″ />