GBP/USD Open 1.5912 High 1.5990 Low 1.5770 Close 1.5909
On Tuesday Pound/Dollar recovered with almost 180 pips after the morning descent, in line with the morning negative Interbank sentiment at bellow -20%. The Cable appreciated from 1.5770 to 1.5951 yesterday, closing the day at 1.5909. Today the British Pound continued recovering, climbing up to 1.5990. On the 1 hour new downward channel is emerging, while on the 3 hour chart the downward channel looks good. First resistance is today's peak at 1.5990. Break above it should extend the bullish movement further towards 1.6121. The nearest support level is today's bottom at 1.5770. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5642. Today are UK Claimant count, Average earnings and ILO Jobless rate, all at 8:30. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and rising too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.5990 1.6121 1.6250
Technical support levels: 1.5770 1.5642 1.5500
Trading range: 1.5940 - 1.6015
Buy at 1.5954 SL 1.5924 TP 1.6004
Already made +27 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Sell GBP/USD at 1.5940 SL 1.5966 TP 1.5880, exit sent at 5:59 GMT+1.
Today so far +103, yesterday +178, as shown in details at http://www.zifx.com/performance.php.