GBP/USD Open 1.5971 High 1.6084 Low 1.5912 Close 1.5956
On Thursday Pound/Dollar increased with 170 pips, in converse with the negative Interbank sentiment at bellow -24%. The Cable appreciated from 1.5912 to 1.6084 yesterday, closing the day at 1.5956. Today the British Pound is trading hesitantly, and within yesterday's range for the time being. On the 1 hour chart the downward channel looks good, while on the 3 hour chart quotes are moving within wide range. First resistance is yesterday's peak at 1.6084. Break above it should extend the bullish movement further towards 1.6220. The nearest support level is yesterday's bottom at 1.5912. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5788. Today are UK PPI Output and Input, both at 08:30 GMT. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is neutral 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 1.6220 1.6358
Technical support levels: 1.5912 1.5788 1.5650
Trading range: 1.5990 - 1.5920
Sell at 1.5980 SL 1.6010 TP 1.5930
Already made +31 pips profit on GBP/USD today from the following sent to clients only signal:
5:27 GMT+1 Sell GBP/USD at 1.5976 SL 1.6002 TP 1.5916, exit sent at 7:37 GMT+1.
Today so far +110, yesterday +105, as shown in details at http://www.zifx.com/performance.php.