GBP/USD Open 1.6306 High 1.6412 Low 1.6173 Close 1.6314
On Tuesday Pound/Dollar decreased significantly with 240 pips, in converse with the positive Interbank sentiment at over +17%. The Cable depreciated from 1.6412 to 1.6173 yesterday, closing the day at 1.6314. Today the British Pound is trading quietly, within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart trading is at the upper end of wider range. First resistance is yesterday's peak at 1.6412. Break above it should extend the bullish movement further towards 1.6540. The nearest support level is today's bottom at 1.6173. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6050. Today is UK BoE quarterly inflation report at 9:30 GMT. 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 positive and declining, MACD is negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.6412 1.6540 1.6663
Technical support levels: 1.6173 1.6050 1.5919
Trading range: 1.6285 - 1.6210
Sell at 1.6273 SL 1.6303 TP 1.6223
Already made +12 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Buy GBP/USD at 1.6275 SL 1.6249 TP 1.6335, exit sent at 6:31 GMT+1.
Today so far +116, yesterday +97, as shown in details http://www.zifx.com/performance.php.