GBP/USD Open 1.6157 High 1.6200 Low 1.6067 Close 1.6151
On Wednesday Pound/Dollar also increased with 110 pips, in line with the morning negative Interbank sentiment at bellow -3%. After dropping down to 1.6067 in the morning, the Cable appreciated from 1.6067 to 1.6175 yesterday, closing the day at 1.6151. Today the British Pound strengthened further, lifting up to 1.6200. On the 1 hour chart quotes are testing the upper limit of the trading range, while on the 3 hour chart the downward channel was broken upwards. First resistance is today's peak at 1.6200. Break above it should extend the bullish movement further towards 1.6326. The nearest support level is yesterday's bottom at 1.6067. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5930. Today are UK Retail sales, PSNCR, PSNB and Nationwide consumer confidence at 8:30 and 23 GMT respectively. Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6200 1.6326 1.6460
Technical support levels: 1.6067 1.5930 1.5800
Trading range: 1.6140 - 1.6215
Buy at 1.6152 SL 1.6122 TP 1.6202
Already made +48 pips profit on GBP/USD today from the following signal:
5:26 GMT+1 Buy GBP/USD at 1.6152 SL 1.6126 TP 1.6212, exit sent at 8:03 GMT+1.
Today so far +135, yesterday +122, as shown in details at http://www.zifx.com/performance.php.