GBP/USD Open 1.5980 High 1.6041 Low 1.5918 Close 1.5988
On Wednesday Pound/Dollar traded with a decline and within 120 pip range, in line with the negative Interbank sentiment at almost -23%. The Cable depreciated from 1.6041 to 1.5918 yesterday, closing the day at 1.5988. Today the British Pound is trading with a slight decline, with movements still within yesterday's range for the time being. On the 1 hour chart the downward channel looks good, while on the 3 hour chart quotes are moving within wide range. First resistance is yesterday's peak at 1.6041. Break above it should extend the bullish movement further towards 1.6162. The nearest support level is yesterday's bottom at 1.5918. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5800. Today is UK BoE meeting announcement at 11 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is thinly negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6041 1.6162 1.6300
Technical support levels: 1.5918 1.5800 1.5667
Trading range: 1.5950 - 1.5875
Sell at 1.5939 SL 1.5969 TP 1.5889
Already made +37 pips profit on GBP/USD today from the following sent to clients only signal:
5:26 GMT+1 Sell GBP/USD at 1.5959 SL 1.5985 TP 1.5899, exit sent at 8:24 GMT+1.
Today so far +72, yesterday +122, as shown in details at http://www.zifx.com/performance.php.