GBP/USD Open 1.5633 High 1.5770 Low 1.5583 Close 1.5625
On Thursday Pound/Dollar decreased with 160 pips. The Cable depreciated from 1.5770 to 1.5609 yesterday, in converse with the positive Interbank sentiment at nearly +30%, closing the day at 1.5625. Today the British Pound weakened further, reaching 1.5583. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are keeping within the wider trading range. First resistance is yesterday's peak at 1.5770. Break above it should extend the bullish movement further towards 1.5900. The nearest support level is yesterday's bottom at 1.5602. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5470. Today are UK Non-EU trade, PPI Output and Input, all at 9:30 GMT. Quotes are moving just above the crossed 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 neutral and inclining upwards, MACD is negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over neutral signals.
Technical resistance levels: 1.5770 1.5900 1.6036
Technical support levels: 1.5583 1.5460 1.5324
Trading range: 1.5655 - 1.5580
Sell at 1.5644 SL 1.5674 TP 1.5594
Already made +27 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5617 SL 1.5643 TP 1.5557, exit sent at 7:01 GMT+1.
Today so far +114, yesterday +75, as shown in details at http://www.zifx.com/performance.php.