GBP/USD Open 1.6144 High 1.6171 Low 1.6108 Close 1.6140

On Tuesday Pound/Dollar increased insignificantly with almost 60 pips. The Cable appreciated from 1.6108 to 1.6165 yesterday, in line with the positive Interbank sentiment at almost +27%, closing the day at 1.6140. Today the British Pound pushed slightly further up to 1.6171.

On the 1 hour chart new upward channel has formed, while on the 3 hour chart smaller angle upward channel has emerged. First resistance is today's peak at 1.6171. Break above it should extend the bullish movement further towards 1.6290. 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 1.5980.

Today are UK GDP Q1 and CBI industrial order books balance, at 8:30 and 10 GMT respectively.

Quotes are moving in line with the 20 and just above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term slim bullish pressure. The value of the RSI indicator is positive and rising, MACD is thinly positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.6171 1.6294 1.6428
Technical support levels: 1.6108 1.5980 1.5846

Already made +33 pips profit on GBP/USD today from the following sent to clients only signal:
5:19 GMT+1 Buy GBP/USD at 1.6138 SL 1.6112 TP 1.6198, exit sent at 8:30 GMT+1.
Today so far +82, yesterday +39, as shown in details at http://www.zifx.com/performance-past.php.

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