GBP/USD Open 1.5636 High 1.5804 Low 1.5611 Close 1.5635
On Monday Pound/Dollar decreased significantly with almost 200 pips. The Cable depreciated from 1.5804 to 1.5611 yesterday, in converse with the positive Interbank sentiment at over +4%, closing the day at 1.5635. Today the British Pound is making recovery attempts, but it's moving at the lower end of yesterday's range for the time being. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart range trading is forming. First resistance is yesterday's peak at 1.5804. Break above it should extend the bullish movement further towards 1.5930. The nearest support level is yesterday's bottom at 1.5611. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5490. Today are UK PSNCR, PSNB and PSNBX, all at 9:30 GMT. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and rising, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.5804 1.5930 1.6064
Technical support levels: 5611 1.5490 1.5358
Trading range: 1.5665 - 1.5740
Buy at 1.5676 SL 1.5646 TP 1.5726
Already made +9 pips profit on GBP/USD today from the following sent to clients only signal:
7:03 GMT Sell GBP/USD at 1.5653 SL 1.5679 TP 1.5593, exit sent at 7:05 GMT+1.
Today so far +25, yesterday +145, as shown in details at http://www.zifx.com/performance.php.