GBP/USD Open 1.5468 High 1.5523 Low 1.5373 Close 1.5464
Pound/Dollar continued climbing on Wednesday, in converse with the Interbank sentiment, at around -32%. The Cable climbed yesterday from 1.5373 to 1.5489, closing the day at 1.5464. Today Sterling is making further increasing efforts. First resistance is today’s top at 1.5523. Break above it should extend the bullish movement further towards 1.5600. The nearest support is yesterday’s bottom at 1.5373. Going bellow it may shake the bull’s strength, and could weaken the British Pound further down towards 1.5268. Today is the UK Nationwide consumer confidence at 23:01 GMT. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating slight bearish pressure. The values of RSI, MACD and CCI indicators are positive and declining on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.5523 1.5600 1.5692
Technical support levels: 1.5373 1.5268 1.5140
Trading range: 1.5505 – 1.5430
Trend: Downward
Sell at 1.5491 SL 1.5521 TP 1.5441
Written by iFOREX.bg
