GBP/USD Open 1.5415 High 1.5526 Low 1.5374 Close 1.5421
On Friday Pound/Dollar continued decreasing with 150 pips. The Cable depreciated from 1.5526 to 1.5374 on Friday, in converse with the positive Interbank sentiment at over +20%, closing the week at 1.5421. Today the British Pound is trading hesitantly, with movements at the lower end of Friday's range for the time being. On the 1 hour chart quotes are still held within the trading range, while on the 3 hour chart the downward channel is on hold. First resistance is Friday's peak at 1.5526. Break above it should extend the bullish movement further towards 1.5650. The nearest support level is Friday's bottom at 1.5374. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5250. There are no major economic events for UK today. Quotes are moving just 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 declining, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.5526 1.5650 1.5782
Technical support levels: 1.5374 1.5250 1.5116
Trading range: 1.5415 - 1.5490
Buy at 1.5429 SL 1.5399 TP 1.5479
Already made +8 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Sell GBP/USD at 1.5429 SL 1.5455 TP 1.5369, exit sent at 6:06 GMT+1.
Today so far +54, on Friday +80, as shown in details at http://www.zifx.com/performance.php.