GBP/USD Open 1.6106 High 1.6148 Low 1.5898 Close 1.6113
Pound/Dollar has formed a new bullish trend on the 15 minutes chart, while still trading neutral on the 1 hour chart, and downward on the 3 hour, where quotes are testing the upper limit of the descending channel at 1.6228. Upward penetration of the above level may seriously shake the bearish outlooks, while staying within the channel should keep the bears’ domination intact, with next objectives towards 1.6028, followed by 1.5898. The nearest resistance is yesterday’s top at 1.6148. Immediate support is Monday’s bottom at 1.6028. The CCI indicator is neutral on the 1 hour chart, suggesting calm range trading.
Technical resistance levels: 1.6148 1.6228 1.6335
Technical support levels: 1.6028 1.5898 1.5807
Trading range: 1.6055 – 1.6125
Buy at 1.6065 SL 1.6035 TP 1.6115
Written by iFOREX.bg