GBP/USD Open 1.5884 High 1.5914 Low 1.5816 Close 1.5888
On Monday Pound/Dollar continued increasing further with 100 pips. The Cable appreciated from 1.5816 to 1.5914 yesterday, in line with the positive Interbank sentiment at nearly +30%, closing the day at 1.5888. Today the British Pound is correcting, moving at the lower half of yesterday's range for the time being. On the 1 hour chart range trading ass formed, while on the 3 hour chart the trading in range continues. First resistance is yesterday's peak at 1.5914. Break above it should extend the bullish movement further towards 1.6040. The nearest support level is yesterday's bottom at 1.5816. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5690. Today are UK HICP, Retail prices, RPI-X, and CBI industrial order books and output balance, at 9:30 and 11 GMT respectively. Quotes are moving bellow the 20 and just above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term slim bullish pressure. The value of the RSI indicator is negative and calm, MACD is positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5914 1.6040 1.6172
Technical support levels: 1.5816 1.5690 1.5553
Already made +18 pips profit on GBP/USD today from the following sent to clients only signal:
8:11 GMT Buy GBP/USD at 1.5840 SL 1.5814 TP 1.5900, exit sent at 8:34 GMT+1.
Today so far +73, yesterday +55, as shown in details at http://www.zifx.com/performance-past.php.