1 Apr 2014; GBPUSD
GU hit resistance line at 1.6680. This create another resistance at 1.6700 if 1.6680 is breached, based on the daily BB(14,2).
Will the GU goes up further or lower. With Ms Yellen speech, it looks like QE is not going to change much. The US stock market rally.
The news on UK PMI at 1630hrs may affect the direction. The upside has 1.668 to 1.670 while the downside is supported by daily EMA21 at 1.663-1.662. CCI(14) indicate a trend with a potential to swing down. But news does affect direction.
For today, a good sell will be around 1.668 and above (if it is before the news) while a buy at around 1.663 to 1.662 is good. Again as CCI(14) is in a no trend - take small profit.
At current and for the whole morning, price is confine by BB(14, 1.8) using a 15min chart. Wait and see the reaction after the first breakout candle, before entering trade.
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