GBP/USD Open 1.6501 High 1.6556 Low 1.6419 Close 1.6513
On Thursday Pound/Dollar decreased with almost 140 pips, in converse with the positive Interbank sentiment at over +30%. The Cable depreciated from 1.6556 to 1.6419 yesterday, closing the day at 1.6513. Today the British Pound is trading hesitantly, with movements within yesterday's range for the time being. On the 1 hour new upward channel is emerging, while on the 3 hour chart wider upward channel has also formed. First resistance is yesterday's peak at 1.6556. Break above it should extend the bullish movement further towards 1.6690. The nearest support level is yesterday's bottom at 1.6419. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6300. Today are UK PSNCR and PSNB, both at 8:30 GMT. Quotes are moving about in line with the almost even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is positive and declining, MACD is thinly negative and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6556 1.6690 1.6826
Technical support levels: 1.6419 1.6300 1.6168
Trading range: 1.6530 - 1.6555
Sell at 1.6519 SL 1.6549 TP 1.6469
Already made +22 pips profit on GBP/USD today from the following signal:
5:27 GMT+1 Sell GBP/USD at 1.6480 SL 1.6506 TP 1.6420, exit sent at 6:48 GMT+1.
Today so far +89, yesterday +162, as shown in details at http://www.zifx.com/performance.php.