Cable Steady Ahead Of BoE At 12

via ZIFX.com:

GBP/USD Open 1.6712 High 1.6742 Low 1.6655 Close 1.6719

On Wednesday Pound/Dollar increased with 85 pips. The Cable appreciated from 1.6655 to 1.6742 yesterday, in line with the positive money flow sentiment at over +14%, closing the day at 1.6719. Today the British Pound is trading quietly, with movements at the upper end of yesterday’s range for the time being.

On the 1 hour chart the upward channel is on hold, while on the 3 hour chart the upward channel has slowed down. First resistance is yesterday’s peak at 1.6742. Break above it should extend the bullish movement further towards 1.6865. The nearest support level is yesterday’s bottom at 1.6655. Going below it should extend British Pound’s reduction further down towards next downward objective 1.6532.

Today are BoE Interest rate decision, and Asset purchase facility, both at 12 GMT.

Quotes are moving above the 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.6742 1.6865 1.7000

Technical support levels: 1.6655 1.6532 1.6400

Already made +20 pips profit/loss on GBP/USD today from the following sent to clients only signal:

5:15 GMT Buy GBP/USD at 1.6709 SL 1.6683 TP 1.6769, exit sent at 6:27 GMT.

Today so far +44, yesterday +92, as shown ;here.

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Cable Steady Ahead Of BoE At 12

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