GBP/USD Open 1.5772 High 1.5889 Low 1.5709 Close 1.5800

On Friday Pound/Dollar increased with 150 pips. The Cable appreciated from 1.5736 to 1.5889 on Friday, in line with the positive Interbank sentiment at over +8%, closing the week at 1.5800. Today the British Pound slightly descended, reaching 1.5709. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart range trading is forming. First resistance is Friday's peak at 1.5889. Break above it should extend the bullish movement further towards 1.6020. The nearest support level is today's bottom at 1.5709. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5587. There are no major economic events for UK today. Quotes are moving bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is thinly negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5889 1.6020 1.6153
Technical support levels: 5709 1.5587 1.5450

Trading range: 1.5739 - 1.5655
Trend: Downward
Sell at 1.5718 SL 1.5748 TP 1.5668

Already made +38 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT Sell GBP/USD at 1.5747 SL 1.5773 TP 1.5687, exit sent at 8:35 GMT+1.
Today so far +123, on Friday +181, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com