GBP/USD 1.5252 – 19 April 2010

GBP/USD Open 1.5290 High 1.5469 Low 1.5390 Close 1.5358
Pound/Dollar also depreciated on Friday, in line with the Interbank sentiment, at nearly -10%. The Cable decreased yesterday from 1.5523 to 1.5368, closing the week at 1.5358. Today Sterling is making further retreating efforts. First resistance is Friday’s top at 1.5469. Break above it should extend the bullish movement further towards 1.5600. The nearest support is today’s bottom at 1.5212. Going bellow it may extend British Pound’s weakening further down towards 1.5125. 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 values of RSI, MACD and CCI indicators are all negative and calm on the 1 hour chart, giving overall short signals.

Technical resistance levels: 1.5469 1.5523 1.5600
Technical support levels: 1.5212 1.5125 1.5000

Trading range: 1.542265 – 1.5190
Trend: Downward
Sell at 1.5252 SL 1.5282 TP 1.5202

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