GBP/USD Open 1.5992 High 1.6009 Low 1.5899 Close 1.5993
On Monday Pound/Dollar traded within 110 pip range, in line with the positive Interbank sentiment at above +17%. The Cable appreciated from 1.5899 to 1.6009 yesterday, closing the day at 1.5993. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being. On the 1 hour chart the upward channel has resumed, while on the 3 hour chart new upward channel is emerging. First resistance is yesterday's peak at 1.6009. Break above it should extend the bullish movement further towards 1.6124. The nearest support level is yesterday's bottom at 1.5899. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5752. Today are UK GDP Q3 and Current account, both at 8:30 GMT. 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 thinly negative and calm, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.6009 1.6124 1.6260
Technical support levels: 1.5899 1.5752 1.5620
Trading range: 1.5985 - 1.6060
Buy at 1.5998 SL 1.5968 TP 1.6048
Already made +7 pips profit on GBP/USD today from the following sent to clients only signal:
6:41 GMT+1 Sell GBP/USD at 1.5973 SL 1.5999 TP 1.5913, exit sent at 6:42 GMT+1.
Today so far +60, yesterday +151, as shown in details at http://www.zifx.com/performance.php.