GBP/USD Open 1.5603 High 1.5734 Low 1.5575 Close 1.5590
On Friday Pound/Dollar decreased with 160 pips. The Cable depreciated from 1.5734 to 1.5575 on Friday, in converse with the positive Interbank sentiment at nearly +14%, closing the week at 1.5590. Today the British Pound is making recovery attempts, but moving still within Friday's range for the time being. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart quotes are keeping within the wide trading range. First resistance is Friday's peak at 1.5734. Break above it should extend the bullish movement further towards 1.5860. The nearest support level is Friday's bottom at 1.5575. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5450. There are no major economic events for UK today. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and tranquil, while CCI is in ;one with the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.5734 1.5860 1.6000
Technical support levels: 1.5575 1.5450 1.5316
Trading range: 1.5615 - 1.5690
Buy at 1.5626 SL 1.5596 TP 1.5676
Already made +16 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5602 SL 1.5628 TP 1.5542, exit sent at 5:54 GMT+1.
Today so far +56, on Friday +109, as shown in details at http://www.zifx.com/performance.php.