GBP/USD Attempting To Recover Above 1.55

GBP/USD Open 1.5482 High 1.5556 Low 1.5459 Close 1.5487

On Friday Pound/Dollar continued decreasing with almost 100 pips. The Cable depreciated from 1.5556 to 1.5459 on Friday, in line with the negative money flow sentiment at nearly -28%, closing the week at 1.5487. Today the British Pound is trading quietly, with movements within Friday's range for the time being.

On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wider range. First resistance is Friday's peak at 1.5556. Break above it should extend the bullish movement further towards 1.5750. The nearest support level is Friday's bottom at 1.5459. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5374.

There are no major economic events for UK today.

Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.

Technical resistance levels: 1.5556 1.5750 1.5886
Technical support levels: 1.5459 1.5374 1.5240

Already made +8 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5492 SL 1.5518 TP 1.5432, exit sent at 5:39 GMT+1.
Today so far +29, on Friday +64, as shown at http://www.zifx.com/performance-past.php.