GBP/USD Open 1.5930 High 1.5971 Low 1.5861 Close 1.5922
On Tuesday Pound/Dollar continued increasing with 110 pips. The Cable appreciated from 1.5861 to 1.5971 yesterday, in line with the positive Interbank sentiment at over +28%, closing the day at 1.5922. Today the British Pound is slightly corrective, with movements still within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wider trading range. First resistance is yesterday's peak at 1.5971. Break above it should extend the bullish movement further towards 1.6090. The nearest support level is yesterday's bottom at 1.5861. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5737. Today are UK Claimant count, Average earnings, ILO Jobless rate, BoE meeting minutes, and Nationwide consumer confidence, at 8:30 and 23:01 GMT respectively. Quotes are moving just bellow the twisted 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: 1.5971 1.6090 1.6224
Technical support levels: 1.5861 1.5737 1.5600
Already made +8 pips profit on GBP/USD today from the following sent to clients only signal:
8:05 GMTGMT+1 Sell GBP/USD at 1.5902 SL 1.5928 TP 1.5842, exit sent at 8:17 GMTGMT+1.
Today so far +54, yesterday +69, as shown in details at http://www.zifx.com/performance-past.php.