GBP/USD Open 1.6273 High 1.6369 Low 1.6260 Close 1.6274
On Monday Pound/Dollar traded within narrow 85 pip range, in converse with the positive Interbank sentiment at over +6%. The Cable depreciated from 1.6346 to 1.6260 yesterday, closing the day at 1.6274. Today the British Pound followed the Euro up, climbing to 1.6364. On the 1 hour chart new upward channel has formed, while on the 3 hour chart new upward channel has emerged. First resistance is today's peak at 1.6369. Break above it should extend the bullish movement further towards 1.6485. The nearest support level is yesterday's bottom at 1.6260. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6140. Today is UK GDP Q2 at 8:30 GMT. Quotes are moving above the even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6369 1.6485 1.6620
Technical support levels: 1.6260 1.6139 1.6000
Trading range: 1.6315 - 1.6390
Buy at 1.6328 SL 1.6298 TP 1.6378
Already made +40 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Buy GBP/USD at 1.6329 SL 1.6303 TP 1.6389, exit sent at 6:56 GMT+1.
Today so far +128, yesterday +143, as shown in details http://www.zifx.com/performance.php.