GBP/USD Open 1.5984 High 1.6045 Low 1.5910 Close 1.5998
On Tuesday Pound/Dollar increased with 135 pips, widening its weekly trading range, in converse with the negative Interbank sentiment at almost -14%. The Cable appreciated from 1.5910 to 1.6045 yesterday, closing the day at 1.5998. Today the British Pound is trading hesitantly, with movements within yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart the new downward channel looks good. First resistance is yesterday's peak at 1.6045. Break above it should extend the bullish movement further towards 1.6164. The nearest support level is yesterday's bottom at 1.5910. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5790. Today is UK M4 money supply and Consumer credit, both at 8:30 GMT. Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6045 1.6164 1.6300
Technical support levels: 1.5910 1.5790 1.5658
Trading range: 1.5970 - 1.6045
Buy at 1.5983 SL 1.5953 TP 1.6033
Already made +21 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Buy GBP/USD at 1.5995 SL 1.5969 TP 1.6055, exit sent at 8:32 GMT+1.
Today so far +90, yesterday +104, as shown in details at http://www.zifx.com/performance.php.