GBP/USD Open 1.6446 High 1.6410 Low 1.6205 Close 1.6363
On Friday Pound/Dollar increased significantly with 170 pips, in line with the positive Interbank sentiment at almost +2%. The Cable appreciated from 1.6205 to 1.6374 on Friday, closing the week at 1.6363. Today the British Pound strengthened further, climbing up to 1.6410. On the 1 hour chart quotes are moving into a trading range, while on the 3 hour chart quotes are back into the upward channel. First resistance is today's peak at 1.6410. Break above it should extend the bullish movement further towards 1.6534. The nearest support level is Friday's bottom at 1.6205. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6081. Today is UK Summer Bank Holiday. Quotes are moving above the crossed and close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6410 1.6534 1.6667
Technical support levels: 1.6205 1.6081 1.5948
Trading range: 1.6385 - 1.6455
Buy at 1.6395 SL 1.6365 TP 1.6445
Already made +38 pips profit on GBP/USD today from the following signal:
5:27 GMT+1 Buy GBP/USD at 1.6369 SL 1.6343 TP 1.6429, exit sent at 8:20 GMT+1.
Today so far +134, on Friday +96, as shown in details at http://www.zifx.com/performance.php.