GBP/USD Resumes Uptrend Above 1.59

GBP/USD Open 1.5890 High 1.5923 Low 1.5787 Close 1.5894

On Tuesday Pound/Dollar increased with 120 pips. The Cable appreciated from 1.5787 to 1.5907 yesterday, in line with the positive Interbank sentiment at over +46%, closing the day at 1.5894. Today the British Pound ascended further, rising up to 1.5917. On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the upward channel is making renewal attempts. First resistance is today's peak at 1.5923. Break above it should extend the bullish movement further towards 1.6048. The nearest support level is yesterday's bottom at 1.5787. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5660. There are no major economic events for UK today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5923 1.6048 1.6180
Technical support levels: 1.5787 1.5660 1.5527

Trading range: 1.5905 - 1.5975
Trend: Upward
Buy at 1.5915 SL 1.5885 TP 1.5965

Already made +29 pips profit on GBP/USD today from the following sent to clients only signal:
5:17 GMT Buy GBP/USD at 1.5897 SL 1.5871 TP 1.5957, exit sent at 8:26 GMT+1.
Today so far +105, yesterday +103, as shown in details at http://www.zifx.com/performance.php.

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