GBP/USD Open 1.6145 High 1.6195 Low 1.6092 Close 1.6136

On Thursday Pound/Dollar traded within 100 pip range, in line with the neutral Interbank sentiment at under -4%. The Cable depreciated from 1.6195 to 1.6092 yesterday, closing the day at 1.6136. Today the British Pound continued moving within narrow range and within yesterday's range for the time being. On the 1 hour new upward channel has formed, while on the 3 hour chart the downward channel was broken upwards. First resistance is yesterday's peak at 1.6195. Break above it should extend the bullish movement further towards 1.6321. The nearest support level is yesterday's bottom at 1.6092. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5970. There are no major economic events for UK today. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6195 1.6321 1.6450
Technical support levels: 1.6092 1.5970 1.5839

Trading range: 1.6140 - 1.6065
Trend: Downward
Sell at 1.6127 SL 1.6157 TP 1.6077

Already made +18 pips profit on GBP/USD today from the following signal:
8:09 GMT+1 Sell GBP/USD at 1.6134 SL 1.6160 TP 1.6074, exit sent at 8:24 GMT+1.
Today so far +112, yesterday +129, as shown in details at http://www.zifx.com/performance.php.

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