GBP/USD Open 1.5576 High 1.5603 Low 1.5514 Close 1.5558
On Monday Pound/Dollar traded within almost 100 pip range. The Cable appreciated from 1.5514 to 1.5603 yesterday, in line with the positive Interbank sentiment at over +31%, closing the day at 1.5558. Today the British Pound is trading hesitantly, holding within yesterday's range for the time being. On the 1 hour chart new upward channel has emerged, while on the 3 hour chart the small angle downward channel is on hold. First resistance is yesterday's peak at 1.5603. Break above it should extend the bullish movement further towards 1.5728. The nearest support level is yesterday's bottom at 1.5514. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5390. Today are UK PSNCR, PSNB and PSNBX, all at 9:30 GMT. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is thinly positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over neutral to all light long signals.
Technical resistance levels: 1.5603 1.5728 1.5760
Technical support levels: 1.5514 1.5390 1.5258
Trading range: 1.5535 - 1.5610
Buy at 1.5548 SL 1.5518 TP 1.5598
Already made +32 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Buy GBP/USD at 1.5544 SL 1.5518 TP 1.5604, exit sent at 8:29 GMT+1.
Today so far +103, yesterday +165, as shown in details at http://www.zifx.com/performance.php.