GBP/USD Open 1.6170 High 1.6255 Low 1.6110 Close 1.6211
On Friday Pound/Dollar decreased insignificantly with 85 pips, in line with the negative Interbank sentiment at bellow -26%. The Cable depreciated from 1.6255 to 1.6170 on Friday, closing the week at 1.6211. Today the British Pound descended further, dropping down to 1.6134. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart the upward channel has turned into range trading. First resistance is Friday's peak at 1.6255. Break above it should extend the bullish movement further towards 1.6371. The nearest support level is today's bottom at 1.6110. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5984. Today is UK CIPS services index at 8:30 GMT. Quotes are moving bellow the even 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and dropping too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.6257 1.6371 1.6500
Technical support levels: 1.6110 1.5984 1.5850
Trading range: 1.6140 - 1.6065
Sell at 1.6126 SL 1.6156 TP 1.6076
Already made +60 pips profit on GBP/USD today from the following sent to clients only signal:
5:28 GMT+1 Sell GBP/USD at 1.6178 SL 1.6204 TP 1.6118, TP reached at 8:34 GMT+1.
Today so far +168, on Friday +124, as shown in details at http://www.zifx.com/performance.php.