GBP/USD Forms Uptrend Since 22 September

By @ibtimes on

GBP/USD Open 1.5549 High 1.5599 Low 1.5431 Close 1.5561

On Monday Pound/Dollar continued increasing with 140 pips, in converse with the negative Interbank sentiment at under -26%. The Cable appreciated from 1.5431 to 1.5571 yesterday, closing the day at 1.5561. Today the British Pound ascended further, reaching up to 1.5599. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart the downward channel has slowed down. First resistance is today's peak at 1.5599. Break above it should extend the bullish movement further towards 1.5720. The nearest support level is yesterday's bottom at 1.5431. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5300. Today is UK CBI retail sales volume balance at 10 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over light long signals.
Technical resistance levels: 1.5599 1.5720 1.5852
Technical support levels: 1.5431 1.5300 1.5166

Trading range: 1.5545 - 1.5620
Trend: Upward
Buy at 1.5559 SL 1.5529 TP 1.5609

Already made +31 pips profit on GBP/USD today from the following sent to clients only signal:
5:26 GMT+1 Buy GBP/USD at 1.5568 SL 1.5542 TP 1.5628, exit sent at 7:26 GMT+1.
Today so far +124, yesterday +119, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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