GBP/USD Open 1.5775 High 1.5848 Low 1.5692 Close 1.5772
On Wednesday Pound/Dollar increased with 150 pips, in line with the positive Interbank sentiment at above +7%. The Cable appreciated from 1.5698 to 1.5848 yesterday, closing the day at 1.5772. Today the British Pound lost all yesterday's gains, crossing yesterday's bottom and reaching 1.5692. On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart range trading is forming. First resistance is yesterday's peak at 1.5848. Break above it should extend the bullish movement further towards 1.5966. The nearest support level is today's bottom at 1.1.5692. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5576. Today is UK Retail sales at 8:30 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5848 1.5966 1.6100
Technical support levels: 1.5692 1.5570 1.5437
Trading range: 1.5740 - 1.5665
Sell at 1.5728 SL 1.5758 TP 1.5678
Already made +49 pips profit on GBP/USD today from the following sent to clients only signal:
5:26 GMT+1 Sell GBP/USD at 1.5741 SL 1.5767 TP 1.5681, exit sent at 8:27 GMT+1.
Today so far +134, yesterday +105, as shown in details at http://www.zifx.com/performance.php.