GBP/USD Open 1.5740 High 1.5797 Low 1.5664 Close 1.5763
On Thursday Pound/Dollar increased with over 120 pips, in converse with the negative Interbank sentiment at nearly -6%. The Cable appreciated from 1.5664 to 1.5786 yesterday, closing the day at 1.5763. Today the British Pound strengthened even further, climbing up to 1.5797. On the 1 hour chart the upward channel looks good, while on the 3 hour chart the downward channel is still on hold. First resistance is today's peak at 1.5797. Break above it should extend the bullish movement further towards 1.5920. The nearest support level is yesterday's bottom at 1.5664. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5541. There are no major economic events for UK today. Quotes are moving just above the almost even 20 and above the 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5797 1.5920 1.6054
Technical support levels: 1.5664 1.5541 1.5414
Trading range: 1.5730 - 1.5805
Buy at 1.5744 SL 1.5714 TP 1.5794
Already made +47 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT+1 Buy GBP/USD at 1.5750 SL 1.5724 TP 1.5810, exit sent at 7:35 GMT+1.
Today so far +110, yesterday +127, as shown in details at http://www.zifx.com/performance.php.