GBP/USD 1.5452 – 26 April 2010

GBP/USD Open 1.5375 High 1.5467 Low 1.5314 Close 1.5371
Pound/Dollar was trading hesitantly and with slight decline on Friday, in line with the Interbank sentiment, at nearly -9%. The Cable decreased on Friday from 1.5395 to 1.5304, closing the week at 1.5371. Today Sterling is making a rally. First resistance is today’s top at 1.5500. Break above it should extend the bullish movement further towards 1.5580. The nearest support is Friday’s bottom at 1.5314. Going bellow it may extend British Pound’s weakening further down towards next downward target 1.5221. There are no major economic events for UK today. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The values of the RSI and CCI indicators are positive and calm, while MACD is positive and climbing on the 1 hour chart, giving overall long signals.

Technical resistance levels: 1.5500 1.5580 1.5700
Technical support levels: 1.5304 1.5221 1.5113

Trading range: 1.5440 – 1.5515
Trend: Upward
Buy at 1.5452 SL 1.5422 TP 1.5502

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