GBP/USD Open 1.5643 High 1.5670 Low 1.5504 Close 1.5646
On Tuesday Pound/Dollar continued increasing significantly with 165 pips. The Cable appreciated from 1.5504 to 1.5670 yesterday, in line with the positive Interbank sentiment at almost +24%, closing the day at 1.5646. Today the British Pound is pushing up again, but movements are limited within yesterday's range for the time being. On the 1 hour chart quotes are back in the trading range, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.5670. Break above it should extend the bullish movement further towards 1.5800. The nearest support level is yesterday's bottom at 1.5504. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5380. Today are UK M4 money supply and Consumer credit, both at 9:30 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.5670 1.5800 1.5936
Technical support levels: 1.5504 1.5380 1.5248
Trading range: 1.5630 - 1.5705
Buy at 1.5641 SL 1.5611 TP 1.5691
Already made +35 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Buy GBP/USD at 1.5635 SL 1.5609 TP 1.5695, exit sent at 8:14 GMT+1.
Today so far +93, yesterday +64, as shown in details at http://www.zifx.com/performance.php.