GBP/USD Open 1.5994 High 1.6043 Low 1.5955 Close 1.5996
On Tuesday Pound/Dollar traded within 85 pip range, in converse with the positive Interbank sentiment at nearly +16%. The Cable depreciated from 1.6040 to 1.5955 yesterday, closing the day at 1.5996. Today the British Pound increased, climbing up to 1.6043. On the 1 hour chart the upward channel has resumed, while on the 3 hour chart new upward channel is emerging. First resistance is today's peak at 1.6043. Break above it should extend the bullish movement further towards 1.6169. The nearest support level is yesterday's bottom at 1.5955. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5830. There are no major economic events for UK today. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim 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 over all light long signals.
Technical resistance levels: 1.6043 1.6169 1.6300
Technical support levels: 1.5955 1.5830 1.5700
Trading range: 1.5995 - 1.6070
Buy at 1.6009 SL 1.5979 TP 1.6059
Already made +8 pips profit on GBP/USD today from the following sent to clients only signal:
5:24 GMT+1 Buy GBP/USD at 1.6033 SL 1.6007 TP 1.6093, exit sent at 5:55 GMT+1.
Today so far +64, yesterday +60, as shown in details at http://www.zifx.com/performance.php.