GBP/USD Open 1.5594 High 1.5657 Low 1.5468 Close 1.5593
On Tuesday Pound/Dollar continued increasing significantly with almost 200 pips. The Cable appreciated from 1.5468 to 1.5657 yesterday, in converse with the negative Interbank sentiment at almost -24%, closing the day at 1.5593. Today the British Pound is showing weakness, but movements are still within yesterday's range for the time being. On the 1 hour chart the downward channel was disturbed upwards, while on the 3 hour chart quotes are holding within the wide trading range. First resistance is yesterday's peak at 1.5657. Break above it should extend the bullish movement further towards 1.5780. The nearest support level is yesterday's bottom at 1.5468. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5339. Today was UK Gfk consumer confidence at 0:01 GMT. 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 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: 1.5657 1.5780 1.5914
Technical support levels: 1.5468 1.5339 1.5200
Trading range: 1.5570 - 1.5495
Sell at 1.5559 SL 1.5589 TP 1.5509
Already made +49 pips profit on GBP/USD today from the following sent to clients only signal:
6:55 GMT Sell GBP/USD at 1.5578 SL 1.5604 TP 1.5518, exit sent at 7:18 GMT+1.
Today so far +82, yesterday +150, as shown in details at http://www.zifx.com/performance.php.