GBP/USD 1.5352 – 30 April 2010

GBP/USD Open 1.5357 High 1.5391 Low 1.5142 Close 1.5317
Pound/Dollar rose on Thursday, in converse with the Interbank sentiment, at nearly -8%. The Cable appreciated yesterday from 1.5142 to 1.5376, closing the day at 1.5317. Today Sterling continues climbing. First resistance is today’s top at 1.5391. Break above it should extend the bullish movement further towards 1.5483. The nearest support is yesterday’s bottom at 1.5142. Going bellow it may extend British Pound’s weakening further down towards next downward objective 1.5020. There are no major economic events today for UK. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The values of the RSI, MACD and CCI indicators are all positive and rising on the 1 hour chart, giving overall long signals.

Technical resistance levels: 1.5391 1.5483 1.5600
Technical support levels: 1.5142 1.5020 1.4900

Trading range: 1.5340 – 1.5415
Trend: Upward
Buy at 1.5352 SL 1.5322 TP 1.5402

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