GBP/USD Open 1.6185 High 1.6257 Low 1.6130 Close 1.6178
On Thursday Pound/Dollar decreased with nearly 125 pips, in line with the negative Interbank sentiment at almost -8%. The Cable depreciated from 1.6257 to 1.6130 yesterday, closing the day at 1.6178. Today the British Pound is moving hesitantly, and within yesterday's range for the time being. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart the upward channel is fading away and turning into range trading. First resistance is yesterday's peak at 1.6257. Break above it should extend the bullish movement further towards 1.6371. The nearest support level is yesterday's bottom at 1.6130. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6005. There are no major economic events for UK today. 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 positive and inclining upwards, MACD is negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6257 1.6371 1.6500
Technical support levels: 1.6130 1.6005 1.5872
Trading range: 1.6210 - 1.6135
Sell at 1.6198 SL 1.6228 TP 1.6148
Already made +15 pips profit on GBP/USD today from the following sent to clients only signal:
5:26 GMT+1 Sell GBP/USD at 1.6188 SL 1.6214 TP 1.6128, exit sent at 6:48 GMT+1.
Today so far +124, yesterday +116, as shown in details at http://www.zifx.com/performance.php.