GBP/USD Open 1.5482 High 1.5500 Low 1.5414 Close 1.5484
On Thursday Pound/Dollar continued increasing on slower pace with 80 pips. The Cable appreciated from 1.5414 to 1.5494 yesterday, in line with the positive Interbank sentiment at almost +17%, closing the day at 1.5484. Today the British Pound pushed slightly further up to 1.5500. On the 1 hour chart new range trading has formed, while on the 3 hour chart the small angle downward channel is on hold. First resistance is today's peak at 1.5500. Break above it should extend the bullish movement further towards 1.5621. The nearest support level is yesterday's bottom at 1.5414. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5290. Today is UK Retail sales at 9:30 GMT. 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 hesitant, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.5500 1.5621 1.5755
Technical support levels: 1.5414 1.5290 1.5157
Trading range: 1.5495 - 1.5425
Sell at 1.5485 SL 1.5515 TP 1.5435
Already made +15 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Buy GBP/USD at 1.5487 SL 1.5461 TP 1.5547, exit sent at 7:36 GMT+1.
Today so far +88, yesterday +119, as shown in details at http://www.zifx.com/performance.php.