GBP/USD Open 1.5977 High 1.6020 Low 1.5937 Close 1.5968
On Thursday Pound/Dollar traded within 80 pip range, in line with the morning negative Interbank sentiment at under -14%. The Cable depreciated from 1.6020 to 1.5943 yesterday, closing the day at 1.5968. Today the British Pound continued weakening, reaching slightly further down to 1.5937. On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel is making renewal attempts. First resistance is yesterday's peak at 1.6020. Break above it should extend the bullish movement further towards 1.6144. The nearest support level is today's bottom at 1.5937. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5826. Today are UK PPI Output and Input, both at 8:30. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6020 1.6144 1.6270
Technical support levels: 1.5937 1.5826 1.5700
Trading range: 1.5985 - 1.5910
Sell at 1.5974 SL 1.6004 TP 1.5924
Already made +30 pips profit on GBP/USD today from the following signal:
8:19 GMT+1 Sell GBP/USD at 1.5978 SL 1.6004 TP 1.5918, exit sent at 8:34 GMT+1.
Today so far +127, yesterday +111, as shown in details at http://www.zifx.com/performance.php.