GBP/USD Open 1.5953 High 1.6043 Low 1.5889 Close 1.5970
On Wednesday Pound/Dollar decreased with 150 pips, in converse with the positive Interbank sentiment at over +15%. The Cable depreciated from 1.6043 to 1.5889 yesterday, closing the day at 1.5970. Today the British Pound recovered almost all yesterday's losses, but moving still within yesterday's range for the time being. On the 1 hour chart the upward channel has resumed, while on the 3 hour chart new upward channel has emerged. First resistance is yesterday's peak at 1.6043. Break above it should extend the bullish movement further towards 1.6169. The nearest support level is yesterday's bottom at 1.5889. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5765. Today are UK CBI industrial order and output books balance, both at 10 GMT. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6043 1.6169 1.6300
Technical support levels: 1.5889 1.5765 1.5642
Trading range: 1.5975 - 1.6050
Buy at 1.5989 SL 1.5959 TP 1.6039
Already made +23 pips profit on GBP/USD today from the following sent to clients only signal:
5:24 GMT+1 Buy GBP/USD at 1.6008 SL 1.5982 TP 1.6068, exit sent at 6:06 GMT+1.
Today so far +156, yesterday +107, as shown in details at http://www.zifx.com/performance.php.