GBP/USD Recovers After EU Bank Supervision Decision
29 Jun, 2012 @ 03:38 am BST | written by iFOREX
GBP/USD Open 1.5510 High 1.5680 Low 1.5483 Close 1.5515
On Thursday Pound/Dollar continued decreasing with almost 140 pips. The Cable depreciated from 1.5624 to 1.5483 yesterday, in line with the negative money flow sentiment at bellow -21%, closing the day at 1.5515. Today the British Pound recovered on EU bank decision, lifting up to 1.5680.
On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wider range. First resistance is today's peak at 1.5680. Break above it should extend the bullish movement further towards 1.5800. The nearest support level is yesterday's bottom at 1.5483. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5360.
There are no major economic events for UK today.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5680 1.5800 1.5932
Technical support levels: 1.5483 1.5360 1.5224
Already made +60 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5602 SL 1.5576 TP 1.5662, exit sent at 8:01 GMT+1.
Today so far +124, yesterday +117, as shown at http://www.zifx.com/performance-past.php.
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