GBP/USD Open 1.5484 High 1.5526 Low 1.5422 Close 1.5434
On Friday Pound/Dollar traded within 100 pip range. The Cable appreciated from 1.5422 to 1.5519 on Friday, in converse with the negative Interbank sentiment at almost -31%, closing the week at 1.5434. Today the British Pound strengthened even further, climbing up to 1.5526. On the 1 hour chart the downward channel looks good, while on the 3 hour chart quotes are testing the lower limit of the wide trading range. First resistance is today's peak at 1.5526. Break above it should extend the bullish movement further towards 1.5650. The nearest support level is Friday's bottom at 1.5422. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5300. There are no major economic events for UK today. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is neutral and tranquil too, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5526 1.5650 1.5781
Technical support levels: 1.5422 1.5300 1.5188
Trading range: 1.5520 - 1.5450
Sell at 1.5510 SL 1.5540 TP 1.5460
Already made +45 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5503 SL 1.5529 TP 1.5443, exit sent at 8:01 GMT+1.
Today so far +100, on Friday +176, as shown in details at http://www.zifx.com/performance.php.