GBP/USD Open 1.6364 High 1.6533 Low 1.6350 Close 1.6369
On Wednesday Pound/Dollar decreased significantly with 180 pips, in converse with the positive Interbank sentiment at above +30%. The Cable depreciated from 1.6533 to 1.6350 yesterday, closing the day at 1.6369. Today the British Pound is trading quietly, and at the lower end of yesterday's range for the time being. On the 1 hour range trading is emerging, while on the 3 hour chart quotes are testing the lower limit of the upward channel. First resistance is yesterday's peak at 1.6533. Break above it should extend the bullish movement further towards 1.6661. The nearest support level is yesterday's bottom at 1.6350. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6319. Today are UK Nationwide house price index and CBI retail sales, at 6 and 10 GMT respectively. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and rising, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6533 1.6661 1.6800
Technical support levels: 1.6350 1.6319 1.6180
Trading range: 1.6370 - 1.6445
Buy at 1.6382 SL 1.6352 TP 1.6432
Already made +25 pips profit on GBP/USD today from the following signal:
5:26 GMT+1 Buy GBP/USD at 1.6373 SL 1.6347 TP 1.6433, exit sent at 8:03 GMT+1.
Today so far +114, yesterday +123, as shown in details at http://www.zifx.com/performance.php.