GBP/USD Open 1.5730 High 1.5749 Low 1.5653 Close 1.5732
On Tuesday Pound/Dollar increased with almost 100 pips, in converse with the negative Interbank sentiment at almost -38%. The Cable appreciated from 1.5653 to 1.5749 yesterday, closing the day at 1.5732. Today the British Pound is slightly correctional, with movements still within yesterday's range for the time being. On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the downward channel looks good. First resistance is yesterday's peak at 1.5749. Break above it should extend the bullish movement further towards 1.5869. The nearest support level is yesterday's bottom at 1.5653. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5530. Today are UK BoE meeting minutes, PSNCR, PSNB, and Nationwide consumer confidence, at 08:30 and 23:01 GMT respectively. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over light short signals.
Technical resistance levels: 1.5749 1.5869 1.6000
Technical support levels: 1.5653 1.5530 1.5400
Trading range: 1.5715 - 1.5640
Sell at 1.5701 SL 1.5731 TP 1.5651
Already made +48 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT+1 Sell GBP/USD at 1.5734 SL 1.5760 TP 1.5674, exit sent at 8:05 GMT+1.
Today so far +211, yesterday +91, as shown in details http://www.zifx.com/performance.php.