GBP/USD Open 1.5887 High 1.5965 Low 1.5840 Close 1.5886
On Wednesday Pound/Dollar decreased with 125 pips. The Cable depreciated from 1.5965 to 1.5840 yesterday, in converse with the positive Interbank sentiment at around +46%, closing the day at 1.5886. Today the British Pound is trading quietly, with movements in the middle of yesterday's range for the time being. On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart quotes are bouncing off the upper limit of the wide range. First resistance is yesterday's peak at 1.5965. Break above it should extend the bullish movement further towards 1.6090. The nearest support level is yesterday's bottom at 1.5840. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5713. Today are UK Nationwide house price index, M4 money supply, Consumer credit and Gfk consumer confidence, at 6, 8:30 and 23:01 GMT respectively. 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 crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5965 1.6090 1.6223
Technical support levels: 1.5840 1.5713 1.5580
Already made +14 pips profit on GBP/USD today from the following sent to clients only signal:
5:17 GMT Sell GBP/USD at 1.5906 SL 1.5932 TP 1.5846, exit sent at 8:33 GMTGMT+1.
Today so far +83, yesterday +127, as shown in details at http://www.zifx.com/performance-past.php.