GBP/USD Open 1.5720 High 1.5745 Low 1.5640 Close 1.5723
On Friday Pound/Dollar continued climbing with 100 pips. The Cable appreciated from 1.5640 to 1.5745 on Friday, in line with the positive Interbank sentiment at almost +47%, closing the week at 1.5723. Today the British Pound is slightly adjusting, but movements are still within Friday's range for the time being. On the 1 hour chart the upward channel is intact, while on the 3 hour chart wide range trading has formed. First resistance is Friday's peak at 1.5745. Break above it should extend the bullish movement further towards 1.5863. The nearest support level is Friday's bottom at 1.5640. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5517. There are no major economic events for UK today. 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 dropping, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5745 1.5863 1.6000
Technical support levels: 1.5640 1.5517 1.5380
Trading range: 1.5695 - 1.5620
Sell at 1.5682 SL 1.5712 TP 1.5632
Already made +50 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Sell GBP/USD at 1.5713 SL 1.5739 TP 1.5653, exit sent at 8:12 GMT+1.
Today so far +126, on Friday +135, as shown in details at http://www.zifx.com/performance.php.