GBP/USD Open 1.5954 High 1.5986 Low 1.5911 Close 1.5957
On Thursday Pound/Dollar increased with 75 pips. The Cable appreciated from 1.5911 to 1.5986 yesterday, in line with the positive Interbank sentiment at over +32%, closing the day at 1.5957. Today the British Pound is trading quietly, moving within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wider trading range. First resistance is yesterday's peak at 1.5986. Break above it should extend the bullish movement further towards 1.6110. The nearest support level is yesterday's bottom at 1.5911. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5785. Today are UK PPI Output and Input, both at 8:30 GMT. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and declining, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5986 1.6110 1.6242
Technical support levels: 1.5911 1.5785 1.5650
Already made +13 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMTGMT+1 Buy GBP/USD at 1.5939 SL 1.5913 TP 1.5999, exit sent at 8:12 GMTGMT+1.
Today so far +60, yesterday +129, as shown in details at http://www.zifx.com/performance-past.php.