GBP/USD Continues Climbing Steadily

GBP/USD Open 1.6112 High 1.6142 Low 1.6059 Close 1.6109

On Tuesday Pound/Dollar increased with 120 pips. The Cable appreciated from 1.6135 to 1.6059 yesterday, in line with the positive money flow sentiment at above +23%, closing the day at 1.6109. Today the British Pound ascended slightly further, reaching up to 1.6142.

On the 1 hour the downward channel is on hold, while on the 3 hour chart the upward channel is making renewal attempts. First resistance is today's peak at 1.6142. Break above it should extend the bullish movement further towards 1.6267. The nearest support level is yesterday's bottom at 1.6059. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5926.

Today are UK Claimant count, Average earnings, ILO Jobless rate, BoE meeting minutes, and CBI industrial order books balance, at 8:30 and 10 GMT respectively.

Quotes are moving just above the close and crossing 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.6142 1.6267 1.6400
Technical support levels: 1.6059 1.5926 1.5790

Already made +17 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6125 SL 1.6099 TP 1.6185, exit sent at 8:15 GMT+1.
Today so far +74, yesterday +172, as shown at our web site.

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