GBP/USD Open 1.6173 High 1.6204 Low 1.6092 Close 1.6140

On Friday Pound/Dollar also recovered partially with 110 pips, in converse with the negative Interbank sentiment at nearly -5%. The Cable appreciated from 1.6092 to 1.6204 on Friday, closing the week at 1.6339. Today the British Pound is declining again, but movements are still within Friday's range for now. On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes are testing the lower limit of the wide trading range. First resistance is Friday's peak at 1.6204. Break above it should extend the bullish movement further towards 1.6324. The nearest support level is Friday's bottom at 1.6092. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5976. There are no major economic events for UK today. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6204 1.6324 1.6450
Technical support levels: 1.6092 1.5976 1.5850

Trading range: 1.6160 - 1.6085
Trend: Downward
Sell at 1.6149 SL 1.6179 TP 1.6099

Already made +30 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Sell GBP/USD at 1.6139 SL 1.6165 TP 1.6079, exit sent at 7:46 GMT+1.
Today so far +123, on Friday +132, as shown in details at http://www.zifx.com/performance.php.

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