GBP/USD Open 1.6074 High 1.6119 Low 1.5969 Close 1.6059
On Wednesday Pound/Dollar increased with 110 pips, forming new weekly upward channel, in converse with the negative Interbank sentiment at almost -16%. The Cable appreciated from 1.5969 to 1.6079 yesterday, closing the day at 1.6059. Today the British Pound extended its gains further, rising up to 1.6119. 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 1.6119. Break above it should extend the bullish movement further towards 1.6241. The nearest support level is yesterday's bottom at 1.5969. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5840. Today is UK Nationwide house price index at 6 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 crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6119 1.6241 1.6370
Technical support levels: 1.5969 1.5840 1.5700
Trading range: 1.6075 - 1.6150
Buy at 1.6086 SL 1.6056 TP 1.6136
Already made +36 pips profit on GBP/USD today from the following signal:
7:52 GMT+1 Buy GBP/USD at 1.6075 SL 1.6049 TP 1.6135, exit sent at 8:14 GMT+1.
Today so far +118, yesterday +105, as shown in details at http://www.zifx.com/performance.php.