GBP/USD Open 1.5775 High 1.5850 Low 1.5727 Close 1.5750
On Friday Pound/Dollar decreased with 120 pips. The Cable depreciated from 1.5850 to 1.5727 on Friday, in converse with the positive Interbank sentiment at over +43%, closing the week at 1.5750. Today the British Pound is making recovery attempts, with movements still within Friday's range for the time being. On the 1 hour chart range trading is forming, while on the 3 hour chart the upward channel has slowed down. First resistance is Friday's peak at 1.5850. Break above it should extend the bullish movement further towards 1.5972. The nearest support level is Friday's bottom at 1.5727. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5600. There are no major economic events for UK today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all to light long signals.
Technical resistance levels: 1.5850 1.5972 1.6100
Technical support levels: 1.5727 1.5600 1.5467
Already made +31 pips profit on GBP/USD today from the following sent to clients only signal:
5:18 GMT Buy GBP/USD at 1.5792 SL 1.5766 TP 1.5852, exit sent at 8:33 GMT+1.
Today so far +98, on Friday +124, as shown in details at http://www.zifx.com/performance.php.