GBP/USD Open 1.6290 High 1.6394 Low 1.6254 Close 1.6315
As US stocks slid on Monday the Pound was seriously harmed like the other majors. The pair reached the 1.6254 bottom yesterday, closing the day at 1.6305. On the 3 hour chart quotes are moving within the 1.5754 – 1.6708 range, and we look for a break of either limits to get clearer picture for trend direction. The nearest resistance is yesterday’s top at 1.6394, the break of whish may strengthen the Cable further toward next objective 1.6530. Immediate support is yesterday’s bottom at 1.6255. CCI has crossed up the 100 line on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 1.6395 1.6530 1.6670
Technical support levels: 1.6255 1.6120 1.6000
Trading range: 1.6345 – 1.6420
Trend: Upward
Buy at 1.6357 SL 1.6327 TP 1.6407
Already made +27 pips profit on GBP/USD today from the following signal:
7:12 GMT+1 Buy GBP/USD at 1.6351 SL 1.6325 TP 1.6411 exited at 7:37 GMT
Today so far +116, yesterday +113, as shown in details here.
Disclaimer: Please note that our technical analysis is not daily/evening forecast, neither a trading signal. Therefore the expectations shown here may differ from our forecasts and signals, to give readers different point of view.
Written by iFOREX.bg
