GBP/USD Loses All Wednesday's Gains
10 Aug, 2012 @ 03:45 am BST | written by iFOREX
GBP/USD Open 1.5631 High 1.5686 Low 1.5604 Close 1.5633
On Thursday Pound/Dollar decreased with 80 pips. The Cable depreciated from 1.5686 to 1.5604 yesterday, in line with the negative money flow sentiment at under -14%, closing the day at 1.5633. Today the British Pound weakened even further, crumbling down to 1.5578.
On the 1 hour chart quotes are holding within the trading range, while on the 3 hour chart quotes are moving within wider range. First resistance is yesterday's peak at 1.5686. Break above it should extend the bullish movement further towards 1.5810. The nearest support level is today's bottom at 1.5578. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5480.
Today are UK PPI Output and Input, both at 8:30 GMT.
Quotes are moving just bellow the close 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 positive and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5686 1.5810 1.5942
Technical support levels: 1.5578 1.5455 1.5320
Already made +51 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:18 GMT+1 Sell GBP/USD at 1.5629 SL 1.5655 TP 1.5569, exit sent at 8:29 GMT+1.
Today so far +135, yesterday +116, as shown at http://www.zifx.com/performance-past.php.
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