GBP/USD Open 1.5855 High 1.5997 Low 1.5791 Close 1.5858
On Monday Pound/Dollar decreased with 150 pips, in line with the negative Interbank sentiment at bellow -37%. The Cable depreciated from 1.5997 to 1.5841 yesterday, closing the day at 1.5880. Today the British Pound is trading hesitantly, but moving still within yesterday's range for the time being. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has also emerged. First resistance is yesterday's peak at 1.5997. Break above it should extend the bullish movement further towards 1.6210. The nearest support level is yesterday's bottom at 1.5791. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5668. Today are UK HICP, Retail prices, RPI-X, Trade in goods and Non-EU trade, all at 8:30 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is thinly negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.6084 1.6210 1.6347
Technical support levels: 1.5791 1.5668 1.5532
Trading range: 1.5850 - 1.5775
Sell at 1.5836 SL 1.5866 TP 1.5786
Already made +60 pips profit on GBP/USD today from the following sent to clients only signal:
5:24 GMT+1 Sell GBP/USD at 1.5869 SL 1.5895 TP 1.5809, TP reached at 8:14 GMT+1.
Today so far +166, yesterday +199, as shown in details at http://www.zifx.com/performance.php.