GBP/USD Open 1.5717 High 1.5883 Low 1.5695 Close 1.5705
On Tuesday Pound/Dollar decreased significantly with 190 pips. The Cable depreciated from 1.5883 to 1.5695 yesterday, in converse with the positive Interbank sentiment at over +45%, closing the day at 1.5705. Today the British Pound is trading quietly, moving at the lower end of yesterday's range for the time being. On the 1 hour chart range trading is forming, while on the 3 hour chart the upward channel is still on hold. First resistance is yesterday's peak at 1.5883. Break above it should extend the bullish movement further towards 1.6010. The nearest support level is yesterday's bottom at 1.5695. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5570. There are no major economic events for UK today. 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 negative and calm, MACD is negative and tranquil too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5883 1.6010 1.6144
Technical support levels: 1.5695 1.5570 1.5434
Already made +12 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Sell GBP/USD at 1.5731 SL 1.5757 TP 1.5671, exit sent at 7:24 GMT+1.
Today so far +40, yesterday +160, as shown in details at http://www.zifx.com/performance-past.php.