GBP/USD Open 1.6364 High 1.6385 Low 1.6293 Close 1.6371
On Thursday Pound/Dollar traded within 130 pip range, in line with the morning positive Interbank sentiment at nearly +10%. The Cable appreciated from 1.6293 to 1.6385 yesterday, closing the day at 1.6371. Today the British Pound is trading hesitantly, and within yesterday's range for the time being. On the 1 hour chart quotes are testing the lower limit of the upward channel, while on the 3 hour chart range trading has formed. First resistance is yesterday's peak at 1.6385. Break above it should extend the bullish movement further towards 1.6510. The nearest support level is yesterday's bottom at 1.6293. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6169. Today are UK Nationwide house price, M4 money supply, and Consumer credit, at 6 and 8:30 GMT respectively. Quotes are moving just bellow the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6385 1.6510 1.6646
Technical support levels: 1.6293 1.6169 1.6030
Trading range: 1.6340 - 1.6265
Sell at 1.6329 SL 1.6359 TP 1.6279
Already made +39 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Sell GBP/USD at 1.6347 SL 1.6373 TP 1.6287, exit sent at 8:21 GMT+1.
Today so far +123, yesterday +92, as shown in details at http://www.zifx.com/performance.php.