GBP/USD Open 1.5783 High 1.5871 Low 1.5705 Close 1.5776
On Tuesday Pound/Dollar decreased with 110 pips, in line with the negative Interbank sentiment at under -38%. The Cable depreciated from 1.5871 to 1.5759 yesterday, closing the day at 1.5776. Today the British Pound weakened further, descending down to 1.5705. On the 1 hour chart the downward channel looks good, while on the 3 hour chart the new downward channel is also intact. First resistance is yesterday's peak at 1.5871. Break above it should extend the bullish movement further towards 1.6000. The nearest support level is today's bottom at 1.5705. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5580. Today are UK Claimant count, Average earnings, and ILO Jobless rate, all at 8:30 GMT. Quotes are moving bellow the close 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.5871 1.6000 1.6137
Technical support levels: 1.5705 1.5580 1.5451
Trading range: 1.5755 - 1.5680
Sell at 1.5742 SL 1.5772 TP 1.5692
Already made +56 pips profit on GBP/USD today from the following sent to clients only signal:
5:31 GMT+1 Sell GBP/USD at 1.5761 SL 1.5787 TP 1.5701, exit sent at 8:16 GMT+1.
Today so far +144, yesterday +166, as shown in details at http://www.zifx.com/performance.php.