GBP/USD Open 1.5986 High 1.6012 Low 1.5912 Close 1.5987
On Monday Pound/Dollar increased insignificantly with 100 pips, in converse with the negative Interbank sentiment at almost -11%. The Cable appreciated from 1.5912 to 1.6012 yesterday, closing the day at 1.5987. Today the British Pound is showing weakness, but movements are still within yesterday's range for now. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has emerged. First resistance is yesterday's peak at 1.6012. Break above it should extend the bullish movement further towards 1.6133. The nearest support level is yesterday's bottom at 1.5912. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5790. Today is UK GDP and Current account Q1, both at 8:30 GMT. Quotes have moved just above the even 20 and 50 EMA on the 1 hour chart, indicating slim bullish impulse. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6012 1.6133 1.6260
Technical support levels: 1.5912 1.5790 1.5658
Trading range: 1.6005 - 1.5930
Sell at 1.5992 SL 1.6022 TP 1.5942
Already made +33 pips profit on GBP/USD today from the following signal:
5:28 GMT+1 Sell GBP/USD at 1.5970 SL 1.5996 TP 1.5910, exit sent at 7:49 GMT+1.
Today so far +90, yesterday +122, as shown in details at http://www.zifx.com/performance.php.