Technical Analysis Reports

The Sterling did not make any significant movement yesterday. We had clear range between 1.5091 and 1.4898. Break out of this zone will signal to traders what position to take. Short term resistance is 1.5165. Immediate support level is around 1.4700. In the long term the bearish scenario is still valid, although the indicator CCI crossed up the 100 line on the daily chart, indicating a potential correction in the upward direction. Today will be published the MPC Meeting Minutes, which may show more signs for further worsening of the economy.

Technical resistance levels: 1.5165 1.5260 1.5370

Technical support levels: 1.4700 1.4595 1.4500

Today we made already +32 pips profit on GBP/USD from the following signal:

6:46 GMT Sell GBP/USD at 1.4985 SL 1.5011 TP 1.4925 exited at 8:30 GMT

Today so far +102, yesterday +126, as shown at www.zifx.com/performance.php