GBP/USD Open 1.5411 High 1.5476 Low 1.5360 Close 1.5413
On Thursday Pound/Dollar continued decreasing with 115 pips. The Cable depreciated from 1.5476 to 1.5360 yesterday, in line with the negative Interbank sentiment at almost -1%, closing the day at 1.5413. Today the British Pound is trading hesitantly, but within yesterday's range for the time being. On the 1 hour chart quotes broke down of the trading range, while on the 3 hour chart downward channel is forming. First resistance is yesterday's peak at 1.5476. Break above it should extend the bullish movement further towards 1.5600. The nearest support level is today's bottom at 1.5360. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5234. 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 positive and declining, MACD is negative and tranquil, while CCI is almost in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5476 1.5600 1.5734
Technical support levels: 1.5360 1.5234 1.5100
Trading range: 1.5435 - 1.5365
Sell at 1.5425 SL 1.5455 TP 1.5375
Already made +18 pips profit on GBP/USD today from the following sent to clients only signal:
7:40 GMT Sell GBP/USD at 1.5445 SL 1.5471 TP 1.5385, exit sent at 8:05 GMT+1.
Today so far +43, yesterday +83, as shown in details at http://www.zifx.com/performance.php.