GBP/USD Open 1.6204 High 1.6255 Low 1.6108 Close 1.6228
On Monday Pound/Dollar also recovered partially with 120 pips after initial drop in the morning, in converse with the negative Interbank sentiment at nearly -5%. The Cable appreciated from 1.6108 to 1.6236 yesterday, closing the day at 1.6200. Today the British Pound increased further, lifting up to 1.6255. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart quotes are testing the lower limit of the wide trading range. First resistance is today's peak at 1.6255. Break above it should extend the bullish movement further towards 1.6372. The nearest support level is yesterday's bottom at 1.6108. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5976. Today are UK PSNCR, UK CBI industrial order books and output balance, at 8:30 and 10 GMT respectively. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6255 1.6372 1.6500
Technical support levels: 1.6108 1.5976 1.5850
Trading range: 1.6210 - 1.6285
Buy at 1.6223 SL 1.6193 TP 1.6273
Already made +39 pips profit on GBP/USD today from the following signal:
5:31 GMT+1 Buy GBP/USD at 1.6207 SL 1.6181 TP 1.6267, exit sent at 7:43 GMT+1.
Today so far +107, yesterday +123, as shown in details at http://www.zifx.com/performance.php.