GBP/USD Open 1.6213 High 1.6264 Low 1.6166 Close 1.6243
On Tuesday Pound/Dollar was trading within 85 pip range, in line with the neutral Interbank sentiment at bellow -2%. The Cable appreciated from 1.6166 to 1.6250 yesterday, closing the day at 1.6243. Today the British Pound extended its gains up to 1.6264. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart quotes bounced off the lower limit of the wide trading range. First resistance is today's peak at 1.6264. Break above it should extend the bullish movement further towards 1.6390. The nearest support level is yesterday's bottom at 1.6166. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6040. Today is UK BoE meeting minutes 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 neutral and hesitant, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6264 1.6390 1.6520
Technical support levels: 1.6166 1.6040 1.5911
Trading range: 1.6210 - 1.6285
Buy at 1.6221 SL 1.6191 TP 1.6271
Already made +50 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Buy GBP/USD at 1.6214 SL 1.6188 TP 1.6274, exit sent at 7:41 GMT+1.
Today so far +125, yesterday +107, as shown in details at http://www.zifx.com/performance.php.