GBP/USD Open 1.5593 High 1.5716 Low 1.5541 Close 1.5622
On Thursday Pound/Dollar increased significantly with 175 pips, in line with the positive Interbank sentiment at almost +6%. The Cable appreciated from 1.5541 to 1.5716 yesterday, closing the day at 1.5622. Today the British Pound corrected deeply, losing all yesterday's gains. On the 1 hour chart small upward channel is emerging, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.5716. Break above it should extend the bullish movement further towards 1.5838. The nearest support level is yesterday's bottom at 1.5541. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5423. There are no major economic events for UK today. Quotes are moving bellow the even and twisted 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is thinly negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5716 1.5838 1.5973
Technical support levels: 1.5541 1.5423 1.5290
Trading range: 1.5585 - 1.5510
Sell at 1.5571 SL 1.5601 TP 1.5521
Already made +23 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT+1 Buy GBP/USD at 1.5586 SL 1.5560 TP 1.5646, exit sent at 6:18 GMT+1.
Today so far +94, yesterday +159, as shown in details at http://www.zifx.com/performance.php.