GBP/USD Open 1.6281 High 1.6398 Low 1.6259 Close 1.6279
On Thursday Pound/Dollar continued decreasing with 140 pips, in converse with the positive Interbank sentiment at above +13%. The Cable depreciated from 1.6398 to 1.6259 yesterday, closing the day at 1.6279. Today the British Pound is trading hesitantly, and within yesterday's range for the time being. On the 1 hour chart quotes are moving into a trading range, while on the 3 hour chart quotes are testing the lower limit of the upward channel. First resistance is yesterday's peak at 1.6398. Break above it should extend the bullish movement further towards 1.6520. The nearest support level is yesterday's bottom at 1.6259. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6133. Today is UK GDP Q2 at 8:30 GMT. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is positive and declining, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6398 1.6520 1.6656
Technical support levels: 1.6259 1.6133 1.6000
Trading range: 1.6320 - 1.6245
Sell at 1.6307 SL 1.6337 TP 1.6257
Already made +27 pips profit on GBP/USD today from the following signal:
5:27 GMT+1 Sell GBP/USD at 1.6317 SL 1.6343 TP 1.6257, exit sent at 8:27 GMT+1.
Today so far +96, yesterday +121, as shown in details at http://www.zifx.com/performance.php.