GBP/USD Open 1.5709 High 1.5737 Low 1.5677 Close 1.5707
On Monday Pound/Dollar traded within narrow 55 pip range. The Cable depreciated from 1.5720 to 1.5677 yesterday, in line with the neutral money flow sentiment at almost -7%, closing the day at 1.5707. Today the British Pound commenced recovery, climbing up to 1.5737.
On the 1 hour chart quotes are holding within the trading range, while on the 3 hour chart trading is within wider range. First resistance is yesterday's peak at 1.5737. Break above it should extend the bullish movement further towards 1.5862. The nearest support level is yesterday's bottom at 1.5677. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5550.
Today are UK PSNB, PSNBX, and CBI industrial order books balance, at 8:30 and 10 GMT respectively.
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 positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5737 1.5862 1.6000
Technical support levels: 1.5677 1.5550 1.5416
Already made +2 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Sell GBP/USD at 1.5723 SL 1.5749 TP 1.5663, exit sent at 5:18 GMT+1.
Today so far +77, yesterday +61, as shown at http://www.zifx.com/performance.php.