GBP/USD Open 1.5505 High 1.5572 Low 1.5464 Close 1.5497
On Monday Pound/Dollar continued trading within 85 pip range. The Cable depreciated from 1.5550 to 1.5464 yesterday, in line with the negative Interbank sentiment at bellow -5%, closing the day at 1.5497. Today the British Pound strengthened, rising up to 1.5572. On the 1 hour chart quotes bounced from the lower limit of the wide range, while on the 3 hour chart the downward channel is on hold. First resistance is today's peak at 1.5572. Break above it should extend the bullish movement further towards 1.5700. The nearest support level is yesterday's bottom at 1.5464. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5336. Today are UK Nationwide consumer confidence and CBI retail sales, at 0:01 and 11 GMT respectively. Quotes are moving just above the crossed and close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and ascending, MACD is neutral and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5572 1.5700 1.5833
Technical support levels: 1.5464 1.5336 1.5200
Trading range: 1.5545 - 1.5610
Buy at 1.5557 SL 1.5527 TP 1.5597
Already made +56 pips profit on GBP/USD today from the following sent to clients only signal:
5:21 GMT Buy GBP/USD at 1.5516 SL 1.5490 TP 1.5576, exit sent at 8:13 GMT+1.
Today so far +89, yesterday +49, as shown in details at http://www.zifx.com/performance.php.