GBP/USD Open 1.5475 High 1.5630 Low 1.5449 Close 1.5478
On Tuesday Pound/Dollar continued decreasing with 180 pips. The Cable depreciated from 1.5630 to 1.5449 yesterday, in converse with the positive Interbank sentiment at almost +12%, closing the day at 1.5478. Today the British Pound is trading hesitantly, moving at the lower side of yesterday's range for the time being. 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 1.5630. Break above it should extend the bullish movement further towards 1.5759. The nearest support level is yesterday's bottom at 1.5449. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5322. Today are UK Claimant count, Average earnings and ILO Jobless rate, all at 9:30 GMT. 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 negative and inclining upwards, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5630 1.5759 1.5900
Technical support levels: 1.5449 1.5322 1.5190
Trading range: 1.5535 - 1.5460
Sell at 1.5524 SL 1.5554 TP 1.5474
Already made +16 pips profit on GBP/USD today from the following sent to clients only signal:
5:21 GMT Sell GBP/USD at 1.5487 SL 1.5513 TP 1.5427, exit sent at 8:12 GMT+1.
Today so far +88, yesterday +87, as shown in details at http://www.zifx.com/performance.php.