GBP/USD Open 1.5990 High 1.6029 Low 1.5958 Close 1.5987
On Monday Pound/Dollar traded within 65 pip range. The Cable depreciated from 1.6025 to 1.5958 yesterday, in converse with the positive money flow sentiment at almost nearly +19%, closing the day at 1.5987. Today the British Pound lifted slightly, reaching 1.6029.
On the 1 hour the upward channel has renewed, while on the 3 hour chart the small angle upward channel has accelerated. First resistance is today's peak at 1.6029. Break above it should extend the bullish movement further towards 1.6150. The nearest support level is yesterday's bottom at 1.5958. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5833.
Today are UK Halifax house price index, Trade in goods, and Non-EU trade, at 7 and 8:30 GMT respectively.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6029 1.6150 1.6283
Technical support levels: 1.5958 1.5833 1.5700
Already made +18 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6011 SL 1.5985 TP 1.6071, exit sent at 7:55 GMT+1.
Today so far +107, yesterday +65, as shown athttp://www.zifx.com/performance-past.php.