GBP/USD Open 1.5895 High 1.6098 Low 1.5869 Close 1.5907
On Monday Pound/Dollar decreased with 200 pips. The Cable depreciated from 1.6098 to 1.5879 yesterday, in converse with the positive Interbank sentiment at above +44%, closing the day at 1.5907. Today the British Pound weakened slightly further, reaching 1.5869. On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is still on hold. First resistance is yesterday's peak at 1.6098. Break above it should extend the bullish movement further towards 1.6220. The nearest support level is today's bottom at 1.5869. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5750. Today are UK HICP, Retail prices and RPI-X, all at 9:30 GMT. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and declining, MACD is negative and calm, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.6098 1.6220 1.6353
Technical support levels: 1.5869 1.5750 1.5614
Trading range: 1.5935 - 1.5865
Sell at 1.5925 SL 1.5955 TP 1.5875
Already made +18 pips profit on GBP/USD today from the following sent to clients only signal:
7:23 GMT Sell GBP/USD at 1.5914 SL 1.5940 TP 1.5854, exit sent at 7:30 GMT+1.
Today so far +94, yesterday +168, as shown in details at http://www.zifx.com/performance.php.