GBP/USD Open 1.6473 High 1.6619 Low 1.6442 Close 1.6457
On Friday Pound/Dollar increased with almost 180 pips, in line with the positive Interbank sentiment at above +32%. The Cable depreciated from 1.6442 to 1.6619 on Friday, closing the week at 1.6457. Today the British Pound is trading quietly, with movements within Friday's range for the time being. On the 1 hour the upward channel has slowed down, while on the 3 hour chart wider upward channel has formed. First resistance is Friday's peak at 1.6619. Break above it should extend the bullish movement further towards 1.6750. The nearest support level is Friday's bottom at 1.6442. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6324. 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 thinly crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.6619 1.6750 1.6884
Technical support levels: 1.6442 1.6324 1.6200
Trading range: 1.6465 - 1.6535
Buy at 1.6475 SL 1.6445 TP 1.6525
Already made +24 pips profit on GBP/USD today from the following signal:
5:28 GMT+1 Buy GBP/USD at 1.6483 SL 1.6457 TP 1.6543, exit sent at 7:47 GMT+1.
Today so far +101, on Friday +112, as shown in details at http://www.zifx.com/performance.php.