GBP/USD Open 1.6090 High 1.6141 Low 1.5989 Close 1.6081
On Monday Pound/Dollar traded within 90 pip range, in converse with the morning negative Interbank sentiment at bellow -14%. The Cable appreciated from 1.6048 to 1.6141 yesterday morning, later lost all those gains, closing the day at 1.6081. Today the British Pound also weakened after S&P comments, dropping down to 1.5989. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart the downward channel has slowed down. First resistance is yesterday's peak at 1.6141. Break above it should extend the bullish movement further towards 1.6262. The nearest support level is today's bottom at 1.5989. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5860. Today is UK CIPS services index at 8:30 GMT. Quotes are moving bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.6141 1.6262 1.6400
Technical support levels: 1.5989 1.5860 1.5723
Trading range: 1.6030 - 1.5955
Sell at 1.6018 SL 1.6048 TP 1.5968
Already made +36 pips profit on GBP/USD today from the following signal:
7:05 GMT+1 Sell GBP/USD at 1.6026 SL 1.6052 TP 1.5966, exit sent at 8:17 GMT+1.
Today so far +79, yesterday +129, as shown in details at http://www.zifx.com/performance.php.