GBP/USD Open 1.5907 High 1.6121 Low 1.5899 Close 1.5912

On Wednesday Pound/Dollar decreased significantly with 220 pips. The Cable depreciated from 1.6121 to 1.5901 yesterday, in converse with the positive Interbank sentiment at above +28%, closing the day at 1.5912. Today the British Pound weakened slightly further, reaching 1.5889. On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is again on hold. First resistance is yesterday's peak at 1.6121. Break above it should extend the bullish movement further towards 1.6250. The nearest support level is today's bottom at 1.5889. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5770. There are no major economic events for UK today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly negative and inclining upwards, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6121 1.6250 1.6382
Technical support levels: 1.5889 1.5770 1.5638

Trading range: 1.5945 - 1.5870
Trend: Downward
Sell at 1.5931 SL 1.5961 TP 1.5881

Already made +50 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5940 SL 1.5966 TP 1.5860, exit sent at 7:12 GMT+1.
Today so far +130, yesterday +81, as shown in details at http://www.zifx.com/performance.php.

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