GBP/USD Open 1.5903 High 1.6057 Low 1.5822 Close 1.5904

On Monday Pound/Dollar also decreased with almost 180 pips, in line with the negative Interbank sentiment at almost -20%. The Cable depreciated from 1.6057 to 1.5881 yesterday, closing the day at 1.5904. Today the British Pound weakened further, descending down to 1.5822. On the 1 hour new downward channel is emerging, while on the 3 hour chart the downward channel has resumed. First resistance is yesterday's peak at 1.6057. Break above it should extend the bullish movement further towards 1.6200. The nearest support level is today's bottom at 1.5822. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5700. Today are UK HICP, Retail prices, RPI-X, Trade in goods, Non-EU trade, and Nationwide consumer confidence, at 8:30 and 23:00 GMT respectively . Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.6057 1.6200 1.6336
Technical support levels: 1.5822 1.5700 1.5567

Trading range: 1.5855 - 1.5785
Trend: Downward
Sell at 1.5845 SL 1.5875 TP 1.5795

Already made +56 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Sell GBP/USD at 1.5878 SL 1.5904 TP 1.5818, exit sent at 8:26 GMT+1.
Today so far +170, yesterday +124, as shown in details at http://www.zifx.com/performance.php.

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