GBP/USD Open 1.6097 High 1.6219 Low 1.6060 Close 1.6113
On Monday Pound/Dollar continued decreasing significantly with 160 pips, in line with the negative Interbank sentiment at bellow -30%. The Cable depreciated from 1.6219 to 1.6060 yesterday, closing the day at 1.6113. Today the British Pound bounced up on European session opening, but movements are still within yesterday's range for the time being. On the 1 hour chart the new downward channel is intact, while on the 3 hour chart quotes are moving within wide range. First resistance is yesterday's peak at 1.6219. Break above it should extend the bullish movement further towards 1.6341. The nearest support level is yesterday's bottom at 1.6060. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5933. There are no major economic events for UK today. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6219 1.6341 1.6477
Technical support levels: 1.6060 1.5933 1.5800
Trading range: 1.6130 - 1.6055
Sell at 1.6119 SL 1.6149 TP 1.6069
Already made +21 pips profit on GBP/USD today from the following sent to clients only signal:
5:27 GMT+1 Sell GBP/USD at 1.6086 SL 1.6112 TP 1.6026, exit sent at 6:13 GMT+1.
Today so far +124, yesterday +168, as shown in details at http://www.zifx.com/performance.php.