GBP/USD Open 1.6057 High 1.6154 Low 1.6037 Close 1.6120
On Friday Pound/Dollar resumed increasing with 115 pips. The Cable appreciated from 1.6037 to 1.6154 on Friday, in line with the positive Interbank sentiment at over +26%, closing the week at 1.6120. Today the British Pound is adjusting, with movements still within Friday's range for the time being. On the 1 hour chart quotes broke out of the trading range, while on the 3 hour chart new upward channel is forming. First resistance is Friday's peak at 1.6154. Break above it should extend the bullish movement further towards 1.6271. The nearest support level is Friday's bottom at 1.6037. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5911. There are no major economic events for UK today. Quotes are moving bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bearish and medium term neutral pressure. The value of the RSI indicator is negative and descending, MACD is positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.6154 1.6271 1.6400
Technical support levels: 1.6037 1.5911 1.5780
Already made +21 pips profit on GBP/USD today from the following sent to clients only signal:
8:06 GMTGMT+1 Sell GBP/USD at 1.6099 SL 1.6125 TP 1.6039, exit sent at 8:38 GMTGMT+1.
Today so far +105, on Friday +123, as shown in details at http://www.zifx.com/performance-past.php.