GBP/USD Open 1.5584 High 1.5670 Low 1.5541 Close 1.5574
On Tuesday Pound/Dollar decreased with almost 100 pips, in line with the negative Interbank sentiment at nearly -14%. The Cable depreciated from 1.5670 to 1.5573 yesterday, closing the day at 1.5574. Today the British Pound descended further, reaching down to 1.5541. On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.5670. Break above it should extend the bullish movement further towards 1.5800. The nearest support level is yesterday's bottom at 1.5541. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5414. Today are UK Claimant count, Average earnings, and ILO Jobless rate, all at 8:30 GMT. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 1.5670 1.5800 1.5937
Technical support levels: 1.5541 1.5414 1.5280
Trading range: 1.5570 - 1.5645
Buy at 1.5583 SL 1.5553 TP 1.5633
Already made +36 pips profit on GBP/USD today from the following sent to clients only signal:
5:24 GMT+1 Buy GBP/USD at 1.5567 SL 1.5541 TP 1.5627, exit sent at 7:17 GMT+1.
Today so far +119, yesterday +118, as shown in details at http://www.zifx.com/performance.php.